Summary
- The amount of assets transferred to attacker-controlled addresses on Bitget has been increased to approximately $387.5 million from the initial estimate of $351.6 million.
- Bitget has identified and fixed the underlying vulnerability that led to the security breach.
- Withdrawals on the exchange will be gradually restored, starting with Bitcoin on September 28 and continuing through October 2.
Bitget has provided an update on the recent security breach, revealing a higher confirmed amount of assets transferred to attacker-controlled wallets and outlining a timeline for the resumption of withdrawals.
The exchange has revised the affected assets to around $387.5 million, attributing the increase to additional assets traced during transactions rather than new unauthorized transfers.
Vulnerability Fixed by Bitget
Bitget’s security team has identified and remediated the attack path and method used to circumvent existing controls, ensuring that no further unauthorized transfers can occur.
Mandiant and SlowMist are collaborating with Bitget in the investigation, and the revised loss estimate includes assets from various networks like Ethereum, XRP Ledger, Zcash, and TRON.
A recovery bounty program has been launched, offering rewards to parties whose actions lead to freezing or recovering funds, with some funds already frozen through industry partnerships.
Gradual Return of Withdrawals
Withdrawals on Bitget will be phased back in, starting with Bitcoin on September 28, followed by Ether and USDT on subsequent days, and other tokens, fiat services, and peer-to-peer withdrawals by October 2.
Restoring withdrawals is a critical operational test for Bitget post-breach, as customer account balances remain secure under the exchange’s protection measures.
The focus now shifts to asset recovery and ensuring a safe reopening of services without compromising security.
Containing the attack was the first step for Bitget, and restoring withdrawal access for customers is the next priority.
This article was written by the News Desk and edited by Samuel Rae.