Bitget Pauses Withdrawals After $387.5 Million Wallet Breach
The exchange says cold wallets were unaffected and deposits and trading remain operational while investigators work to recover the assets.
Bitget has paused withdrawals after unauthorized transfers from exchange hot and warm wallets affected an estimated $387.5 million in digital assets, putting recovery efforts and user protection measures at the center of the incident.
The exchange initially estimated the affected amount at $351.6 million. The revised figure includes previously uncounted Zcash and TRON assets and does not represent a new theft. Cold wallets and Bitget Wallet’s separate self-custody infrastructure were not affected.
Bitget has identified and marked addresses linked to the transfers, notified law enforcement and started working with Mandiant and SlowMist on the investigation. The exchange said the attack path and the method used to bypass existing controls have been identified, and the underlying vulnerability has been fixed.
Deposits, trading and rewards remain available while withdrawals undergo additional security checks. Bitget’s user-protection fund exceeds $464 million, and the exchange has started a recovery bounty offering 5% of assets frozen or recovered through a successful intervention.
Bitget plans to publish a withdrawal-restoration plan by noon Beijing time Sept. 26, or midnight ET (04:00 UTC).
