Bitget Plans Staged Withdrawal Restart After $387.5M Crypto Loss
The exchange said unauthorized transfers affected XRP, Ether, stablecoins and other assets, while cold wallets, deposits and trading remained operational.
Bitget plans to restore cryptocurrency withdrawals in stages after approximately $387.5 million was transferred from parts of its hot and warm-wallet infrastructure to attacker-controlled addresses.
The exchange initially estimated the affected assets at $351.6 million before raising the figure after including assets held on Zcash and TRON. The confirmed asset list includes XRP, Ether (ETH), Tether (USDT), Zcash (ZEC), USD Coin (USDC), USDT0, XAUt, BNB, Avalanche (AVAX) and Tron (TRX).
Bitget detected unauthorized transfers Sept. 24 at 2:31 p.m. ET (6:31 p.m. UTC). It said its cold wallets were unaffected, while deposits and trading continued operating. Customer balances remain intact, and the exchange said its protection fund will cover the financial damage.
“The underlying vulnerability has been identified and remediated,” Bitget said, adding that the incident remains contained and no further unauthorized transfers are possible. Mandiant and SlowMist are assisting with the investigation.
Bitget has not published the full withdrawal timetable in its security update. The exchange said withdrawals will return gradually after additional security checks are completed.
