Cryptocurrency exchange Bitget has released a comprehensive and substantial update regarding the security breach that shook the platform earlier this week, revising its financial impact upward and providing a definitive, phased timetable for the full restoration of user withdrawals.
According to the latest disclosures from the exchange, the confirmed amount of digital assets transferred to attacker-controlled wallets now stands at approximately $387.5 million. This represents an increase from the initial preliminary estimate of $351.6 million provided in the immediate aftermath of the incident.
Bitget clarified that the upward revision does not stem from a secondary wave of unauthorized transfers or an ongoing breach. Instead, the adjusted figure reflects additional assets, tokens, and wallet addresses identified through meticulous transaction tracing and blockchain forensics conducted over the course of the week. As security analysts dug deeper into the movement of funds across multiple distributed ledgers, the full scope of the initial exploit became clearer, prompting the exchange to update its stakeholders with transparent metrics regarding the total volume of compromised capital.
The Vulnerability Has Been Patched, Bitget Says
In its updated briefing, Bitget reported that its internal security operations team has successfully isolated the attack path utilized by the malicious actors. The platform stated that the specific technical method employed to bypass existing perimeter controls and security measures has been thoroughly analyzed and sealed.
According to the exchange, the underlying vulnerability that permitted the unauthorized withdrawals has been completely remediated. Bitget assured its user base and the broader cryptocurrency community that no further unauthorized transfers are possible and that the platform’s systems are secure against a repeat of this specific vector.
To ensure transparency and maintain accountability, Bitget has enlisted the expertise of independent cybersecurity and blockchain forensics firms. Reputed investigators from Mandiant and SlowMist are actively participating in the ongoing post-incident investigation, working alongside the exchange’s internal teams to trace stolen funds, analyze attack signatures, and reconstruct the sequence of events that led to the breach.
The revised loss estimate spans a complex web of blockchain networks, underscoring the cross-chain nature of modern cyber threats in the digital asset ecosystem. Affected assets include holdings across Ethereum and various other Ethereum Virtual Machine (EVM) compatible chains, the XRP Ledger, Zcash, and the TRON network. The involvement of multiple chains necessitated a coordinated, multi-chain response to track the movement of funds and liaise with relevant network validators and project teams.
As part of its multifaceted strategy to recover the stolen capital, Bitget has also launched a formal recovery bounty program. Under the parameters of this initiative, eligible parties whose voluntary, lawful actions directly result in funds being frozen or successfully recovered can receive a bounty calculated as a percentage of the assets secured. The exchange noted that this crowdsourced approach, combined with direct interventions, has already yielded results, with some funds successfully frozen through close coordination with industry partners, centralized exchanges, and decentralized finance protocols.
Withdrawals Will Return In Stages
With the technical containment phase largely complete, the operational focus of the exchange has shifted toward the safe and orderly return of customer access. Rather than lifting all restrictions simultaneously—a move that could introduce operational bottlenecks or unforeseen system vulnerabilities—Bitget has opted to reopen withdrawals in carefully monitored stages.
The phased reopening schedule begins with the resumption of Bitcoin withdrawals, which are scheduled to go live first on September 28. This initial step allows the platform to test its operational readiness and transaction processing pipelines using the industry’s most prominent asset before expanding to more complex multi-chain environments.
Ether withdrawals, spanning several supported networks, are expected to follow closely behind on September 29. Following that, USDT withdrawals are scheduled to resume on September 30, addressing the high-demand stablecoin sector that forms the backbone of active trading liquidity on the platform.
The final phase of the rollout, encompassing other supported tokens, fiat services, and peer-to-peer withdrawal options, is planned to return by October 2. This structured timetable represents one of the most significant operational tests the exchange has faced in its history, setting a strict framework for the restoration of normal business operations.
This staged recovery schedule now serves as a critical test of confidence for the platform’s user base. Bitget has consistently maintained throughout the crisis that customer account balances remain fully intact and that its internal protection arrangements and reserve structures cover the total financial impact of the breach. However, industry observers note that official assurances must be validated in practice. Restoring withdrawals smoothly and without interruption is the primary mechanism through which users can test those assurances in the real world.
The upward revision of the loss figure to $387.5 million also positions this incident as a materially different event from initial reports, increasing the pressure on management to execute the recovery and reopening phases flawlessly. While the immediate containment of the threat marked the first critical milestone for the exchange, re-establishing seamless withdrawal access for customers represents the definitive next step in putting the crisis behind them. As the scheduled dates approach, market participants and account holders alike will be watching closely to see whether Bitget can successfully navigate the operational hurdles of normalization without encountering further technical complications.
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