Bitget Resumes Withdrawals Following $387.5 Million Hack

Bitget has begun a phased resumption of cryptocurrency withdrawals starting October 28, four days after suspending services due to a security breach that resulted in the theft of approximately $387.5 million. Bitcoin withdrawals were enabled first, followed by Ethereum on October 29 and USDT on October 30. The exchange expects all services, including fiat and P2P operations, to be fully restored by October 2. Bitget stated that the vulnerability has been patched and that customer balances remain unaffected, with the exchange's protection fund covering the losses. Investigations are ongoing with support from Mandiant and SlowMist.