Crypto exchange Bitget has announced the resumption of Bitcoin (BTC) withdrawals after a major security breach last week that compromised approximately $388 million in assets. The exchange had suspended withdrawals following the incident but has now restored BTC services as part of its recovery efforts.
According to Bitget CEO Gracy Chen, the exchange prioritized the resumption of BTC withdrawals due to the completion of the withdrawal pipeline. Ether (ETH) withdrawals are scheduled to resume on Tuesday, followed by Tether's USDt (USDT) on Wednesday, as security checks continue to progress.
The breach, which occurred on September 24, affected Bitget's hot and warm wallet infrastructure, while its cold wallets remained secure. The exchange revised the total stolen amount from an initial $351.6 million to $387.5 million after accounting for additional transfers on Zcash and Tron.
In the wake of the hack, the attacker has been swapping stolen Ether for Bitcoin through the decentralized protocol THORChain. Bitget's CEO has urged THORChain to prevent services to addresses linked to the attack, although THORChain clarified that its network halt affects all users and cannot selectively freeze specific funds.
Withdrawals for other assets and peer-to-peer services are expected to resume by Friday, with the resumption schedule applying uniformly to all users, ensuring no priority access for institutions or VIP customers.