Wallet Linked to Bitget Exploit Moves $1.23 Million From Binance
The transfer came before Bitget plans to reopen Bitcoin withdrawals following a security incident it now values at approximately $387.5 million.
A wallet linked through on-chain tracing to the Bitget exploit moved about $1.23 million in Ether (ETH) from Binance to an address linked to the incident ahead of Bitget’s planned reopening of Bitcoin withdrawals.
The wallet withdrew 257.6 Ether, worth about $692,000, and $545,000 in Tether (USDT) from Binance on Sept. 25. It exchanged the USDT for 200.2 ETH, consolidated the funds into 457.9 ETH and sent them to the linked address.
Bitget plans to resume Bitcoin (BTC) withdrawals at 4 a.m. ET (08:00 UTC) Sept. 28. Ether withdrawals are scheduled to follow Sept. 29, Tether withdrawals Sept. 30, and other tokens, fiat services and peer-to-peer transactions Oct. 2.
Bitget detected unauthorized transfers at 2:31 p.m. ET (18:31 UTC) Sept. 24 and initially estimated the loss at $351.6 million. The exchange later raised that estimate to approximately $387.5 million after including transfers involving Zcash and Tron.
Bitget said the vulnerability in its wallet infrastructure was remediated and that customer balances remained accurate. Deposits and trading remained operational while withdrawals were suspended for the security review.
