Bitget Raises Hack Estimate To $387.5M And Sets Withdrawal Restart Plan

TL;DR

• Bitget has increased the confirmed value of assets transferred to attacker-controlled addresses from $351.6 million to about $387.5 million.
• The exchange says the underlying vulnerability has been identified and remediated.
• Withdrawals are scheduled to return in stages beginning with Bitcoin on September 28 and continuing through October 2.

Bitget has published a substantial update on this week’s security breach, increasing the confirmed amount transferred to attacker-controlled wallets and laying out a timetable for restoring withdrawals.

The exchange now puts the affected assets at approximately $387.5 million, up from its initial estimate of $351.6 million.

Bitget says the change reflects additional assets identified during transaction tracing rather than a second wave of unauthorized transfers.

The Vulnerability Has Been Patched, Bitget Says

According to the exchange, its security team has now identified the attack path and the method used to bypass existing controls.

Bitget says the underlying vulnerability has been remediated and that no further unauthorized transfers are possible.

Independent teams from Mandiant and SlowMist are participating in the investigation.

The revised loss estimate includes assets across multiple networks, including Ethereum and other EVM chains, XRP Ledger, Zcash and TRON.

Bitget has also launched a recovery bounty program.

Eligible parties whose voluntary actions directly result in funds being frozen or recovered can receive a bounty calculated as a percentage of the assets secured.

The exchange says some funds have already been frozen through coordination with industry partners.

Withdrawals Will Return In Stages

Bitget plans to reopen withdrawals gradually rather than turning everything back on at once.

Bitcoin withdrawals are scheduled to resume first on September 28.

Ether withdrawals across several supported networks are expected to follow on September 29, with USDT withdrawals scheduled for September 30.

Other tokens, fiat services and peer-to-peer withdrawals are planned to return by October 2.

That timetable is now one of the most important operational tests following the breach.

Bitget has maintained that customer account balances remain intact and that its protection arrangements cover the financial impact.

Restoring withdrawals is where users get to test that assurance in practice.

The new $387.5 million figure also makes this a materially different story from the initial breach report.

The incident itself has already been confirmed.

Now the focus is shifting to remediation, asset recovery and whether the exchange can reopen normally without creating another security problem.

For Bitget, containing the attack was step one.

Getting customers their withdrawal access back is the next one.

This article was written by the News Desk and edited by Samuel Rae.