Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait

At about 04:20 UTC Monday, Bitget's public feed showed BTC and ETH futures trades taking place after the exchange's Sept. 24 security breach. On Sept. 28, Bitget said it had opened BTC withdrawals on the Bitcoin network, the first stage of its phased plan. The notice says the service is open; it does not document a completed customer withdrawal. Trading activity and the ability to send assets off the exchange face separate tests.

Bitget said its security systems detected unauthorized transfers from some hot wallets at 18:31 UTC on Sept. 24. It suspended withdrawals while keeping trading and deposits open. The exchange initially estimated affected assets at about $351.6 million. A Sept. 25 update raised the estimate to approximately $387.5 million after it identified more transactions from the original incident; Bitget said the revision did not reflect additional unauthorized transfers.

Bitget says customer balances remain unaffected and its Protection Fund will cover the incident's financial impact. Those assurances come from the exchange. The practical question for customers is whether they can successfully transfer assets or trading proceeds out of their accounts.

The company's phased reopening plan sets 08:00 UTC for each of these dates: