Bitget Revises Crypto Theft Estimate to Approximately $387.5 Million
The exchange detected unauthorized transfers Sept. 24, paused withdrawals and later began restoring them in phases after adding Zcash and TRON transactions to its estimate.
Bitget revised its estimate of crypto transferred to attacker-controlled addresses to approximately $387.5 million, raising the stakes of an incident that prompted the exchange to suspend withdrawals and investigate wallet activity.
The exchange detected unauthorized transfers from parts of its hot- and warm-wallet infrastructure at 2:31 p.m. ET Sept. 24 (18:31 UTC). Its initial estimate was $351.6 million, but the later figure included previously uncounted Zcash and TRON transactions from the same incident rather than additional movements.
The affected assets included XRP, Ether (ETH), Tether (USDT), Zcash (ZEC), USD Coin (USDC), USDT0, Tether Gold (XAUt), BNB, Avalanche (AVAX) and TRON (TRX). Bitget said its cold wallets were unaffected while deposits and trading remained operational.
Bitget said Mandiant and SlowMist were assisting with the investigation and that the underlying vulnerability had been identified and remediated. It also said some funds were frozen through coordination with industry partners and offered eligible participants a bounty equal to 5% of successfully frozen funds.
The exchange began phased withdrawal restoration at 4 a.m. ET Sept. 28, starting with Bitcoin (BTC). Once assets leave an exchange-controlled wallet, recovery generally depends on where they move next; tracking transactions alone does not guarantee a freeze or return.
