Bitget resumes BTC withdrawals after September 24 security incident; vulnerability remediated and Protection Fund to be replenished to $300M within a week.
Security & Exploits ·
Following a security incident on September 24, Bitget initiated a phased restart of withdrawal services, with Bitcoin network BTC withdrawals resuming at 08:00 UTC on September 28. The exchange stated that the underlying vulnerability had been fixed and no additional unauthorized transfers occurred after the incident was contained. User account balances were not impacted by the breach.
Bitget CEO Gracy Chen committed to restoring the Protection Fund to its $300 million baseline within one week, suggesting the fund had been drawn down to cover losses or address exposure from the incident. The specifics of how much was depleted and the timeline for full replenishment remain to be clarified.
The nature of the vulnerability and the total value affected by unauthorized transfers have not been disclosed. Clarity on whether other assets beyond BTC remain restricted and the full scope of the incident's impact on user holdings is pending.