Bitget Resumes Withdrawals Following $388 Million Security Breach
- Bitget has resumed Bitcoin withdrawals after a security breach on September 24, which compromised $387.5 million in assets.
- The breach affected Bitget’s hot and warm wallet infrastructure, while cold wallets remained secure.
- Withdrawals for Ethereum (ETH) are scheduled to resume Tuesday, followed by Tether’s USDt (USDT) on Wednesday.
- The attacker is reportedly moving stolen funds through THORChain, converting ETH to Bitcoin.
- THORChain stated its network halt cannot selectively freeze funds linked to the attacker’s addresses.
Following a significant security incident, Bitget is gradually restoring withdrawal services for various cryptocurrencies, starting with Bitcoin and followed by Ethereum and USDT as security checks are completed.
The exchange reported that nearly $388 million was compromised during the breach, emphasizing the importance of securing digital assets amidst rising cyber threats. (Source)
