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Nearly 5,000 BTC leave Bitget after withdrawals resume post-hack
Bitget processed 9,585 withdrawal orders for 4,098.036 BTC after reopening withdrawals, while its tracked Bitcoin reserves fell from about 35,412 BTC to 30,770 BTC.
Nearly 5,000 Bitcoin left Bitget’s tracked reserves after the crypto exchange reopened withdrawals following its $387.5 million hack, according to CryptoSlate. The outlet reports that on Sept. 28, Bitget processed 9,585 withdrawal orders totaling 4,098.036 BTC as of 17:00 UTC+8, shortly after it resumed Bitcoin withdrawals.
CryptoSlate also cites DeFiLlama data showing Bitget’s tracked Bitcoin balance dropping to about 30,770 BTC from 35,412 BTC, a decline of roughly 4,642 BTC. At then-prevailing prices, CryptoSlate estimates that drop is worth about $391 million, though it notes reserve changes can reflect wallet movements or differences in address coverage, not just customer withdrawals.
The faster reserve decline than the amount Bitget said it processed suggests user response may have accelerated, CryptoSlate added. The outlet says Bitget had frozen withdrawals for four days while investigating what it describes as the largest security incident in its eight-year history, and restored Bitcoin withdrawals at 08:00 UTC on Sept. 28 after additional checks on its withdrawal infrastructure.
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