Crypto exchange Bitget has begun a phased rollout of asset withdrawals following a security incident that occurred on September 24. As a result of the attack, attackers withdrew about $388 million in digital assets.
Crypto exchange Bitget has begun a phased rollout of asset withdrawals following a security incident that occurred on September 24. As a result of the attack, attackers withdrew about $388 million in digital assets.
The resumption of operations was announced by Bitget CEO Gracie Chen during a live AMA session.
According to an internal investigation, the attackers exploited a vulnerability in a third-party security product to obtain high-level internal credentials. This allowed them to send fraudulent teams to withdraw funds bypassing risk controls. The company emphasizes that private keys were not compromised, cold wallets were not affected, and user balances remain safe.
“The digital asset security landscape has changed significantly since Bitget launched eight years ago — attacks have become more sophisticated and infrastructure has become more interconnected,” noted Gracie Chen.
The first stage on September 28 was the resumption of BTC withdrawals on the Bitcoin and BSC networks. In the first hour alone, the platform processed over 9,500 requests worth about 4,098 BTC. ETH withdrawals are scheduled to resume on September 29, USDT on September 30, and the remaining tokens, fiat, and P2P services will be unlocked by October 2. Experts from Mandiant and SlowMist were involved in forensic analysis and tracking of funds, and some of the lost assets have already been frozen in cooperation with partners.
