Bitget restores Bitcoin withdrawals after $388 million hack

Bitget resumed Bitcoin withdrawals Monday after a security breach involving nearly $388 million in assets. Bitcoin withdrawals resumed on the Bitcoin network and BNB Smart Chain, Bitget CEO Gracy Chen said. Chen said Bitget restored Bitcoin withdrawals first because that withdrawal pipeline was the first to be completed. Bitget said the Sept. 24 breach compromised part of its hot and warm wallet infrastructure. The exchange said its cold wallets remained secure. Bitget revised the stolen amount from $351.6 million to $387.5 million after accounting for additional transfers on Zcash and Tron. Ether withdrawals are scheduled to resume Tuesday across Ethereum, BNB Smart Chain, Arbitrum, Base and Optimism. USDt withdrawals are scheduled to resume Wednesday across Ethereum, BNB Smart Chain, Solana and Tron. Withdrawals for other assets and peer-to-peer services are scheduled to return Friday. Chen said the schedule applies to all users, with no priority access for institutions, VIP customers or Bitget employees. Chen called on THORChain to refuse services to addresses linked to the attack. Lookonchain reported Monday that the attacker was swapping Ether for Bitcoin through THORChain. Arkham data showed Ether linked to the attacker flowing into THORChain vaults. THORChain said Monday that its network halt is an emergency security mechanism that affects the protocol broadly. THORChain said the halt does not selectively freeze specific funds or an individual swap. Crypto author Anndy Lian said THORChain can halt trading, stop outbound transactions or pause a connected chain, but those measures affect users broadly. Lian said the protocol has no built-in address blacklist, limiting its ability to block specific addresses.