Phased Crypto Withdrawal Plan
Bitget schedules phased withdrawals after a $387.5 million unauthorized transfer incident.
Anonymous
Bitget says it will restore withdrawals in phases after a September 24 security incident that led to about $387.5 million in unauthorized transfers from its hot wallets. Bitcoin withdrawals are scheduled to resume first on September 28, followed by Ether withdrawals on September 29, with other assets to follow. The exchange says it has fixed the vulnerability, contained the incident and is conducting additional security checks with help from Mandiant and SlowMist. Bitget also says user account balances remain unaffected, trading and deposits continue, and its Protection Fund covers the incident’s financial impact.
Key Points
1
The affected assets listed by Bitget include XRP, ETH, USDT, ZEC, USDC, XAUt, BNB, AVAX and TRX across several networks.
2
Bitget introduced a Recovery Bounty Program for voluntary contributions that help freeze or recover stolen assets, and said fund movements can be tracked through a dashboard and API.
3
Bitget said users do not need to take any action before withdrawals reopen and that the phased restoration will apply consistently, without giving users preference. CEO Gracy Chen was scheduled to host a live AMA on September 28 to answer questions about the incident and next steps.
Sentiment
Mostly NegativeNEGATIVENEUTRALPOSITIVE
Publishers
21
Articles
4
Reach
25
A
AnonymousAuthor
