⏱ 1 min read
▼ 1.36%
▼ 0.47%
The exchange lifted its pause on BTC withdrawals and raised its loss estimate after tracing flows on Zcash and Tron; ETH and USDT withdrawals are slated to follow as checks conclude.
Bitget has restarted Bitcoin (BTC) withdrawals after last week’s security incident, with more assets and networks to follow in the coming days, the exchange said. The Sept. 24 breach affected part of Bitget’s hot and warm wallet infrastructure, while its cold wallets remained secure, according to the company.
BTC withdrawals on the Bitcoin network and on BNB Smart Chain were the first to resume, CEO Gracy Chen said in a Monday ask-me-anything session. “We restored BTC first because the withdrawal pipeline is the first to be completed,” Chen said, adding that Ether (ETH) and Tether’s USDt (USDT) would follow as security checks progress.
Bitget revised its estimate of assets taken to $387.5 million from $351.6 million after accounting for additional transfers on Zcash and Tron. That implies an increase of $35.9 million from the initial figure.
The exchange said only its hot and warm wallets were compromised. Those online wallets facilitate day-to-day operations but can be more exposed than cold storage, which remained intact. A staged, network-by-network reopening suggests Bitget is rebuilding and validating its withdrawal infrastructure per chain while forensic work continues across multiple networks.
What to watch next
- Whether the loss estimate stabilizes after the latest $35.9 million upward revision.
- The timeline for enabling ETH and USDT withdrawals and the specific networks supported at launch.
- Details of wallet rebuilds, security hardening, or external audits the exchange discloses.
This content is for informational purposes only and does not constitute financial advice.
🧠 HafidWatch Take
Bitget’s phased reopening indicates a careful approach to restoring trust and security, but real progress will depend on visible improvements in wallet infrastructure and third-party security audits. Clear updates on these technical measures would help demonstrate that vulnerabilities are being effectively addressed, reducing the risk of further breaches before ETH and USDT withdrawals resume. Monitoring these steps could provide a more concrete timeline for when users might expect safer, fully restored service.
🔗 Tools mentioned in this article
Affiliate disclosure: Links above may earn HafidWatch a commission at no cost to you.
Daily crypto intelligence. Before the market opens.
Including the Divergence Index — the sentiment gap no other newsletter tracks. Free, every morning at 7:30am ET.
✓ Free forever · ✓ No spam · ✓ 50+ sources monitored
