Bitget Resumes Bitcoin Withdrawals in Phases After $388 Million Exploit
Updated — view changes (3)
· body · New information from a source
Bitget announced a phased withdrawal restart following a $388 million exploit, according to The Block.The exchange said it has patched the vulnerability responsible for the incident and committed to covering all losses through its user protection fund.- Bitget has started a phased resumption of withdrawals following a $388 million exploit, according to The Block.
- The exchange said it has patched the vulnerability behind the breach and that losses will be fully covered by a user protection fund, per The Block.
- Bitcoin withdrawals have reopened first, while Ethereum and USDT withdrawals remain paused, according to The Defiant.
- CEO Gracy Chen said the protection fund would be replenished above $300 million this week, The Defiant reported.
- Separately, Chen said the attacker ran two small test transfers roughly half an hour before draining the exchange, apparently probing its risk controls ahead of the theft, according to The Block.
- The Defiant put the loss figure at $387.5 million, close to The Block's $388 million estimate.
· summary · New information from a source
Bitget begins phased withdrawal resumption after patching vulnerability behind $388 million loss.- Bitget has begun restoring withdrawals in phases after a $388 million exploit, reopening Bitcoin transfers first while ETH and USDT stay paused.
· headline · New information from a source
Bitget resumes withdrawals in phases after $388 million exploit, pledges full user protection fund coverage- Bitget Resumes Bitcoin Withdrawals in Phases After $388 Million Exploit
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Bitget has started a phased resumption of withdrawals following a Bitget starts phased withdrawal resumption following $388 million exploit.
exploit, according to The Block. The exchange said it has patched the vulnerability behind the breach and that losses will be fully covered by a user protection fund, per The Block.
Bitcoin withdrawals have reopened first, while Ethereum and USDT withdrawals remain paused, according to The Defiant. CEO Gracy Chen said the protection fund would be replenished above ETH and USDT withdrawals remain paused, while CEO Gracy Chen pledges to replenish the protection fund above $300 million this week.
this week, The Defiant reported.
Separately, Chen said the attacker ran two small test transfers roughly half an hour before draining the exchange, apparently probing its risk controls ahead of the theft, according to The Block. The Defiant put the loss figure at Bitget Reopens Bitcoin Withdrawals After $387.5 Million Breach.
, close to The Block’s $388 million estimate.
Bitget has not detailed the exact vulnerability that was patched, nor given a timeline for restoring ETH and USDT withdrawals, based on the available reporting.
Sources: The Block, The Defiant
This article is for information only and is not financial advice.
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Story so far 2 updates
- flashBitget resumes withdrawals in phases after $388 million exploit, pledges full user protection fund coveragefirst reportedtheblock.co
- storyBitget Resumes Bitcoin Withdrawals in Phases After $388 Million Exploitupdate · 2 sourcestheblock.co · thedefiant.io
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