Bitget confirms breach total climbs to $387.5 million
Security & Exploits ·
The exchange's chief executive says tracing work uncovered additional stolen funds, pushing the confirmed figure well above the initial estimate as a withdrawal restart is mapped for September 26.
Bitget has revised its confirmed loss figure from an exploit upward to approximately $387.5 million, according to a statement from CEO Gracy Chen, replacing the earlier estimate of $351.6 million cited when the incident first surfaced, per wublockchain.xyz. Chen said the jump stems from newly identified Zcash and TRON holdings swept into attacker-controlled wallets during forensic tracing, clarifying that the increase reflects more complete accounting of the original event rather than a second wave of theft.
Chen stated that the intrusion has been sealed off and that attackers no longer have a path to move additional assets off the platform. The exchange plans to disclose its process for reopening withdrawals no later than 4:00 AM UTC on September 26, giving users a fixed window for when normal fund access should return.
Alongside the disclosure, Bitget introduced an incentive program aimed at clawing back stolen assets: participants who materially assist in freezing or recovering funds tied to the breach are eligible for a reward equal to 5% of whatever is successfully recouped through their efforts, as detailed in Chen's statement carried by wublockchain.xyz. The bounty structure is designed to pull in outside trackers, white-hat researchers, or blockchain-analysis firms who might identify wallet movements or intermediary services the attackers used to launder proceeds.
Separate reporting on the same timeline places the intrusion on September 24 and echoes both the $387.5 million total and the September 26 withdrawal-plan deadline, indicating consistent figures across multiple accounts of the event, as noted in coverage shared via x.com. Chen has also linked the attack to threat actors associated with North Korea, though the material reviewed does not specify what evidence supports that attribution.
Unresolved questions include how much of the $387.5 million, if any, has been frozen or recovered under the new bounty program, and whether the September 26 announcement will include a firm restart date for withdrawals or additional conditions for users. The North Korea attribution also remains unverified in the available reporting, leaving open whether further detail or formal confirmation will follow.