Bitget Updates Hack Losses to $387.5M, Plans Withdrawal Resumption
- Bitget has revised the amount of assets transferred to attacker-controlled addresses to approximately $387.5 million, up from an initial estimate of $351.6 million.
- The exchange has identified and remediated the vulnerability used in the breach, with no further unauthorized transfers possible.
- Withdrawals will resume gradually, starting with Bitcoin on September 28 and continuing through October 2 for other tokens.
- Independent teams from Mandiant and SlowMist are involved in the ongoing investigation.
- A recovery bounty program is launched for parties aiding in asset recovery, with some funds already frozen through industry collaboration.
Bitget’s updated loss figure indicates a more extensive breach than initially reported, highlighting the importance of effective remediation and asset recovery measures. The gradual resumption of withdrawals will test Bitget’s assurances about customer account integrity and security improvements.
The new estimate of $387.5 million marks a significant increase from earlier reports, underscoring the scale of the breach and the critical need for robust security protocols going forward.(Source)
