Bitget Raises Hack Estimate to $387.5 Million, Offers Recovery Bounty
The exchange added previously omitted Zcash and TRON assets to its estimate and will outline a withdrawal plan by Sept. 26.
Bitget raised its estimated loss from a Sept. 24 wallet breach to approximately $387.5 million, adding about $35.9 million to its initial assessment after including previously omitted Zcash and TRON assets.
The exchange detected unauthorized transfers at 2:31:11 p.m. ET (18:31:11 UTC) from parts of its hot- and warm-wallet infrastructure. Bitget said the revised figure covers the original incident and does not reflect new unauthorized activity.
Withdrawals remain suspended, while deposits and trading are available. Bitget plans to announce a withdrawal plan by 12 a.m. ET Sept. 26 (04:00 UTC), but has not said withdrawals will resume at that time.
The exchange is offering eligible participants a bounty equal to 5% of funds they directly help freeze or recover. Court-ordered, law-enforcement and other compulsory actions do not qualify. Bitget said some assets had already been frozen through coordination with industry partners but did not disclose the amount.
Bitget said its cold wallets were unaffected and customer balances remained accurate. Mandiant and SlowMist are assisting with the investigation, while the exchange uses tracing and recovery tools across multiple networks.
