Bitget to Resume Withdrawals After $387.5 Million Security Incident

• •Bitget will resume withdrawals in four stages starting September 28, 2026.
• •Unauthorized transfers from the exchange amounted to approximately $387.5 million.
• •A recovery bounty program has been launched to incentivize freezing and recovering stolen funds.

Bitget, a cryptocurrency exchange, will resume withdrawals in phases starting September 28, 2026, following a security incident on September 24 that resulted in unauthorized transfers totaling approximately $387.5 million. The exchange has identified and fixed the vulnerabilities that led to the breach, with assistance from cybersecurity firms Mandiant and SlowMist. The phased reopening will begin with Bitcoin withdrawals, followed by Ethereum and USDT, with other tokens scheduled to resume by October 2. Despite the incident, Bitget assures users that their account balances remain unaffected and that trading and deposits continued during the withdrawal pause. The exchange has also launched a recovery bounty program offering rewards for freezing and recovering stolen funds. The initial loss estimate was $351.6 million, which increased after further investigation revealed additional assets involved.