Bitget customers withdraw over 4,000 bitcoin after hack

Customers withdrew over 4,000 bitcoin worth over $334 million at today's prices in one hour after Bitget resumed withdrawals, CEO Gracy Chen said. Hackers stole $388 million in crypto from Bitget's hot wallets last week. Chen said withdrawals had since stabilized. Chen said in a Monday X post that Bitget processed 9,585 orders totaling 4,098 bitcoin. Bitget is allowing customers to withdraw funds in phases. Bitget froze withdrawals after blockchain experts flagged money leaving the exchange. Bitget said the attack method was highly consistent with known patterns of North Korean hacker organizations. Chen said attackers exploited vulnerabilities in third-party products to steal internal credentials. Chen said attackers used those credentials to send fraudulent withdrawal commands that bypassed Bitget's risk controls. Chen said no cold storage funds were touched. Chen said Bitget was using its own money to replenish its protection fund. Bloomberg reported that the fund had fallen from $464 million before the hack to below $200 million. Bitget said this was its first security incident of this nature in eight years. Bitget said the incident was contained and no further unauthorized transfers were possible.