Bitget Bitcoin withdrawals have resumed after a cyberattack that stole $387.5 million from the cryptocurrency exchange. The company says it has fixed the exploited vulnerability and plans to restore withdrawals for other assets in stages.
Bitget attributes the attack to suspected North Korean hackers. However, that attribution rests on the company’s analysis rather than an independently confirmed finding described in the report.
Exchange Revises Losses to $387.5 Million
Bitget suspended all withdrawals on Thursday after detecting unauthorized transfers from a limited number of cryptocurrency wallets.
Initially, the exchange reported losses of $351.6 million from its hot and warm wallets. On Friday, it raised that figure to $387.5 million following further blockchain tracing and transaction analysis.
According to CEO Gracy Chen, the incident affected Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC and Base.
The attackers took multiple assets, including ETH, XRP, BNB, AVAX, USDT, USDC and other tokens.
Attackers Compromised Wallet Infrastructure
Chen said the hackers breached a critical backend system within Bitget’s wallet infrastructure.
They then used that access to falsify transaction data, triggering the exchange’s authorization process. As a result, funds moved from compromised hot and warm wallets to attacker-controlled addresses.
Chen pointed to blockchain activity and IP behavior patterns when attributing the incident to North Korean hackers.
Meanwhile, Bitget says it has contained the breach and prevented further unauthorized transfers.
Bitget Bitcoin Withdrawals Return Ahead of Other Assets
The exchange has restored Bitcoin withdrawals while maintaining temporary restrictions on other assets.
Its estimated schedule lists the following reopening times:
- September 29 at 08:00 UTC: ETH withdrawals on Ethereum, BSC, Arbitrum, Base and Optimism.
- September 30 at 08:00 UTC: USDT withdrawals on Ethereum, BSC, Solana and Tron.
- From October 2 at 08:00 UTC: Other tokens, fiat and P2P assets.
These dates remain estimates rather than guaranteed restoration times. Bitget says it will restore the remaining services as soon as possible.
Bitget Says Protection Fund Covers Financial Impact
According to the exchange, the withdrawal pause serves as a security precaution and does not reflect a shortage of user assets.
Bitget says customer account balances remain unchanged and its Protection Fund covers the financial impact of the incident.
In addition, trading and deposits continue to operate while the company restores withdrawal services.
The exchange has also launched a recovery bounty program, offering a 5% reward for assistance that helps recover or freeze stolen funds.
Incident Follows Other Major Cryptocurrency Thefts
North Korean hacking groups have links to several large cryptocurrency thefts, including the $1.5 billion Bybit breach.
Blockchain analytics company Elliptic estimated in February 2025 that North Korean hackers had stolen more than $6 billion in cryptocurrency since 2017.
However, those earlier incidents do not independently establish who carried out the Bitget attack.
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