Bitget says Bitcoin withdrawals open; ETH and USDT must wait after $387 million hack

Bitget said it opened Bitcoin-network withdrawals on Sept. 28. The exchange estimated that the Sept. 24 security breach affected about $387.5 million in assets. Bitget said its security systems detected unauthorized transfers from some hot wallets at 18:31 UTC on Sept. 24. Bitget suspended withdrawals and kept trading and deposits open. The exchange initially estimated that affected assets totaled about $351.6 million. Bitget raised its estimate to approximately $387.5 million on Sept. 25 after identifying more transactions from the original incident. Bitget said the revised estimate did not reflect additional unauthorized transfers. Bitget said customer balances remained unaffected. The exchange said its Protection Fund would cover the incident's financial impact. ETH and USDT withdrawals remain scheduled for later dates. The reopening notice did not document a completed customer withdrawal. Bitget's public trade feed returned 100 BTCUSDT futures fills between 04:20:25 and 04:20:49 UTC on Sept. 28. The feed returned 100 ETHUSDT fills between 04:20:34 and 04:20:52 UTC. The fills show trading in those two contracts during those seconds. A snapshot around 04:21 UTC showed $22.14 million of displayed BTC futures buy and sell orders within 0.05% of the contract midpoint. The same snapshot showed $10.29 million of ETH futures orders within 0.05% of the midpoint. The BTC quoted spread was about 0.012 basis points. The ETH quoted spread was about 0.038 basis points. A hypothetical $500,000 sell against the displayed BTC buy orders would have averaged 0.0095% below the BTC midpoint before fees. A hypothetical $500,000 sell against the displayed ETH buy orders would have averaged 0.0183% below the ETH midpoint before fees. The calculations model a static order book. No customer order produced those prices. Orders can be canceled, replenished, or changed while a trade is placed. TokenInsight sampled nine venues every 30 minutes from Aug. 16 through Sept. 14. The study ranked Bitget first for combined BTC and ETH futures depth within the 0.05% band, with a $41.60 million median. At the 0.03% band, the study ranked Bitget third with a $15.25 million median, behind MEXC and Hyperliquid. The study ended before the breach. Its different windows and methods preclude a measured before-and-after change or a current peer ranking. Futures trading does not establish that customers can withdraw assets. Withdrawal access depends on transfers across the intended network.