Bitget has begun a phased restoration of withdrawal services following a security breach that resulted in losses of $388 million. The platform resumed Bitcoin withdrawals on the mainnet and BSC on September 28. Within the first hour of operation, the exchange processed 9,585 withdrawal requests totaling approximately 4,098 BTC.
The company plans to resume Ethereum withdrawals on September 29, followed by USDT on September 30. Other tokens, fiat services, and P2P operations are scheduled to return on October 2. CEO Gracy Chen confirmed that the vulnerability, which originated in a third-party security product, has been patched, and no further unauthorized transfers have been detected.
According to the investigation, attackers obtained privileged internal credentials to bypass risk control mechanisms. Bitget clarified that private keys and cold wallets remained secure throughout the incident. The total loss estimate was revised from $351.6 million to $388 million after accounting for transactions in Zcash and TRON networks.
Bitget is currently working with Mandiant and SlowMist to track assets and analyze the attack vector. The exchange is also coordinating with law enforcement and industry partners, successfully freezing a portion of the stolen funds. A formal security report is expected to be released by the company later this week.
