Bitget Scales Hack Estimate to $387.5 Million, Unveils Phased Recovery Plan

Following a major security breach, cryptocurrency exchange Bitget has revised its damage assessment and released a detailed roadmap for restoring user access to funds.

Tracking the Losses and Securing the Perimeter

The exchange has increased the confirmed value of assets transferred to attackers to $387.5 million. This update follows a deeper dive into transaction tracing across Ethereum, XRP Ledger, Zcash, and TRON. Bitget confirmed that the underlying vulnerability has been successfully identified and patched. Forensic teams from Mandiant and SlowMist are currently assisting with the full investigation. A recovery bounty program has been launched to reward parties who help freeze or recover the stolen assets.

Roadmap to Restoring User Withdrawals

Bitget plans to reopen withdrawal services in stages to ensure a safe transition back to normal operations. Bitcoin withdrawals are the first priority and are scheduled to resume on September 28. Ethereum withdrawals will follow on September 29, with USDT access returning on September 30. All remaining tokens, fiat services, and peer-to-peer withdrawals are expected to be active by October 2. The exchange maintains that customer balances remain intact and are covered by internal protection funds. This phased restart serves as a critical test of the platform’s resilience following the significant exploit.