bitget

Bitget promised users they'd be made whole after the $387.5M hack. Then it reopened withdrawals, and users pulled $463M in 24 hours anyway.

That's the largest single-day outflow DefiLlama has recorded since it started tracking exchange proof-of-reserves four years ago. It's more than 10% of Bitget's reserves gone in one day. The exchange still holds about $5.7B, so this isn't insolvency, but it's a clear vote of no confidence.

Here's the part worth sitting with: the user losses were covered. Bitget's Protection Fund absorbed the hack. Nobody's balance was touched. And people left anyway, in greater numbers than the hack itself.

That's the real cost of a security breach. Not the stolen amount, but the trust. The Protection Fund has been drawn down and Bitget says it plans to top it back above $300M within seven days. Until then, the safety net that made users whole this time is thinner than it was a week ago.

Exchanges market insurance funds as "your money is safe here." The market just showed that users read a hack as a reason to leave, even when the fund works exactly as advertised.

If a fully covered hack still triggers a record run, what is an exchange insurance fund actually buying?

#Bitget #ProofOfReserves

Bitget CEO Gracy Chen is “not very optimistic” about recovering the stolen funds. 📢

The exchange confirmed its $464 MILLION protection fund covers every user.

Trading and deposits never stopped.

Withdrawals resumed today.

#Bitget #BitgetExchange #Hack #FUND

🚨 Bitget Protection Fund Mobilizes $BTC Following Withdrawal Reopening

On-chain analyst Ai Yi (@ai_9684xtpa) recently flagged significant movement involving Bitget’s BTC Protection Fund shortly after the platform reopened its BTC withdrawal portal.

Here is the breakdown of what on-chain data reveals so far:

Funds Reallocated: 2,042.28 BTC have been shifted in batches directly into Bitget hot wallets to support upcoming withdrawal requests.

Remaining Reserve: 3,457.72 BTC out of the original 5,500 BTC protection fund remain intact on-chain.

Analyst Take: Experts emphasize that pre-positioning assets into hot wallets is standard operational liquidity management to ensure smooth withdrawals—it does not equal the total amount actually withdrawn by users.

Monitoring exchange reserve liquidity closely as market activity unfolds.

What’s your take on this liquidity adjustment? Let’s discuss below! 👇

#CryptoNews #Bitcoin #Bitget #OnChain #BinanceSquare

🚨 CRISIS AT #Bitget :
$463M Withdrawn Following $387.5M #security Exploit! 🚨

Fears of a liquidity crunch have triggered panic among Bitget users, driving a record $463 million in net outflows within 24 hours after the platform began a staggered resumption of customer withdrawals! 📉💸

🔍 Inside the Chaos:

The Hack: Attackers exploited a third-party vulnerability to spoof transactions, draining $387.5 million from hot and warm wallets. Cold storage remains untouched.

The Exodus: Panicked traders moved over 10% of Bitget’s $5.7B in total reserves off the platform in just one day.

🛡️ Management Emergency Response:

Fund Activation: CEO Gracy Chen confirmed Bitget's User Protection Fund absorbed the hit, dropping from $464M to under $200M to keep user balances safe.

Capital Replenishment: The exchange pledged to use its own capital to rebuild the protection fund back above $300M within a week.

Phased Recovery: #bitcoin withdrawals are live, with #ETH and #USDT rolling out next as security audits conclude.

The market remains highly cautious as Mandiant and SlowMist trace the stolen assets. Watch those exchange balances closely! 🌐💼

⚠️ Disclaimer: For informational purposes only. Not financial advice. Manage your risk and custody wisely (DYOR).

#CryptoNews #CryptoHack #BlockchainSecurity #LazarusGroup #CryptoTrading #DeFi #Bitcoin #Ethereum

$BTC
$ETH

🚨 $388M BITGET HACK - FUNDS STILL MOVING! 🚨

Hackers are laundering via DeFi!
> THORChain: Refusing to block ❌
> NEAR Intents: Blocked $50M+ ✅ Froze $503K
> Wasabi Mixer: $343M still dormant in 13 wallets

$157M in $XRP | $85M in $ETH | $34M $USDT already on the move 👀

North Korea link confirmed! This is the biggest hack of 2026 so far!
Stay safe out there! #Bitget #Hack #CryptoNews

🚨 Bitget reopens BTC withdrawals post-hack, but ETH and USDT remain locked. Sept. 28 futures data shows ETH trading activity ahead of BTC’s 08:00 UTC restart. Traders may be positioning for delayed ETH access—watch for potential liquidity shifts once withdrawals resume. Could ETH see a delayed rebound as access normalizes? #Bitget

$ETH #TradingSignal #CryptoAnalysis

🚨 BREAKING: Bitget Hit by $352M Hack — CEO Gracy Chen Assures User Funds Are 'Safe'

Crypto exchange Bitget has suffered a major security breach resulting in approximately $352 million in unauthorized transfers. The announcement came shortly after independent on-chain researchers detected unusual wallet movements across multiple networks involving assets such as $ETH ,$BNB , $AVAX , and $USDT.
Here is what you need to know about the incident:
>> User Funds Protected: Bitget CEO Gracy Chen confirmed that customer account balances remain intact. The exchange's $464M User Protection Fund fully covers the entire affected amount.

>> Cold Storage Secure: Bitget’s three-tier wallet architecture contained the exploit to hot and warm wallet layers only; cold wallets were not compromised.

>> Operational Status: Trading and deposits remain fully online, while withdrawals have been temporarily paused pending a comprehensive security audit.

>> Market Impact: Native token $BGB saw brief downward volatility before stabilizing, with minimal broader market impact on major assets like $BTC and $ETH .

Bitget's security team is working alongside on-chain analytics firms and law enforcement, with a full technical incident report expected within 24 hours.

How important is an exchange's Protection Fund when choosing where to trade? Share your thoughts below! 👇

#writetoearn #Bitget #CryptoNews #CryptoSecurity #BinanceSquare

Bitget Exchange Loses Nearly $390M in Security Breach, Withdrawals Resume Step by Step

Bitget, one of the world's popular crypto exchanges, was targeted by hackers on September 25. Reports put the stolen amount at around $387 million, making this the biggest crypto hack of 2026 so far. The stolen funds included XRP, ETH, and stablecoins.
According to early findings, the attackers got into a backend wallet system and manipulated transaction data to get around approval checks. The platform says its private keys were not leaked. Some analysts suspect North Korea-linked hackers, but no one has confirmed this yet.
To limit the damage, Bitget has promised to cover user losses from its Protection Fund. It has also announced a 5% reward for anyone who helps freeze or recover the stolen assets. Other exchanges, including Bybit and OKX, are helping trace the funds. Withdrawals are coming back in phases: Bitcoin first on September 28, then Ethereum and other networks on September 29.
The wider crypto market stayed fairly steady after the incident. Still, the event shows why users should enable two-factor authentication and avoid keeping all their funds on a single exchange.

Disclaimer: This content is for information only and is not financial advice.

#Bitget #CryptoHacker #CryptoSecurity y #Bitcoin #Ethereum #CryptoNews #BinanceSquare #Crypto

📰 Bitget confirms BTC withdrawals are open on the Bitcoin network.

🔎 The exchange’s official notice confirms that this withdrawal service has reopened after its suspension. The announcement names BTC on the Bitcoin network specifically.

💡 This moves beyond a planned restart. It does not establish that every asset or network is available; check the exact withdrawal route before relying on the headline.

🔗 Source: https://www.bitget.com/support/articles/12560603896188

#Bitcoin #Bitget #CryptoNews

#bitgetdetailssecurityincidenttimeline
#bitgetdetailssecurityincidenttimeline
Hey everyone! 👋 Let's talk about the latest updates regarding the Bitget security incident timeline.

As many of you know, Bitget recently faced unauthorized transfers from its hot and warm wallets, with the final affected amount revised to $387.5M.

Here is a quick look at how things unfolded:

Sept. 24: Unauthorized transfers detected and withdrawals temporarily suspended 🛑

Sept. 25: Attack path identified and vulnerability successfully fixed 🔍

Sept. 28: BTC withdrawals started returning in phases 📅

The great news is that cold wallets were completely unaffected, and the $464M+ User Protection Fund fully covers the losses, meaning user account balances remain safe and secure! 🛡️

What are your thoughts on how they handled this? Are you feeling confident about the phased withdrawal restart, or are you staying cautious? Let’s chat in the comments! 👇
$BTC, $ZEC
, $HBAR

#Bitget #crypto #security

🚨 BITGET WITHDRAWALS RESUME — SECURITY INCIDENT IN FOCUS

Bitget has started restoring withdrawals in phases following the security incident detected on September 24.

According to Bitget’s latest updates:

🔹 Around $387.5M in assets were transferred to attacker-controlled addresses
🔹 The affected infrastructure involved hot/warm wallets
🔹 Bitget says user account balances were unaffected
🔹 BTC withdrawals began resuming on September 28
🔹 ETH withdrawals are scheduled to follow on September 29
🔹 USDT withdrawals are scheduled for September 30
🔹 Other tokens, fiat and P2P services are scheduled for October 2

Bitget says the underlying vulnerability has been identified and remediated, while Mandiant and SlowMist are assisting with the investigation.

The bigger question for the market is whether this incident changes traders’ confidence in centralized exchanges or simply becomes another security event that the industry moves past.

🔎 What matters now: withdrawal restoration, fund recovery, and transparency around the investigation.

Do you think exchange security will become a bigger market factor in 2026?

#Bitget #Crypto #Bitcoin #Ethereum #BGB $BGB $BTC $ETH

Bitget BTC Withdrawals Are Moving Again 🙌.
Bitget has started opening the $BTC withdrawal channel, and the protection fund is already being moved around to support it.
The 5,500 BTC protection fund has been transferred in batches to Bitget’s hot wallet. So far, over 2,042.28 BTC (~$169M) has been moved, with another 3,457.72 BTC still sitting on-chain. Since part of this was transferred ahead of time, that balance shouldn’t be treated as the exact amount users will withdraw.
Then came the latest update:
▶︎ 3,000+ withdrawal transactions
▶︎ Over 2,700 #BTC withdrawn
▶︎ 2,432.1 BTC moved out of the 5,500 BTC protection fund

And the numbers kept climbing. As of 16:39, Bitget reported around 3,298.7 BTC withdrawn, with 6,875 withdrawal transactions processed and another 3,580 transactions waiting for on-chain confirmation. Bitget has also opened a new BTC withdrawal channel on BSC, which should give users another option with potentially faster processing and lower fees.
Gracy from Bitget said the actual withdrawal amount so far was below their expected level, while #Bitget also said it plans to replenish the protection fund back to the $300M baseline within one week. Plenty still moving here… worth watching how the numbers develop from this point.

#BitgetCEOConfirms$388MStolenInHack
🚨 Bitget Confirms ~$388M Crypto Theft! 💰🔐

Bitget CEO confirmed that roughly $388M in crypto assets was stolen in the Sept. 24 security incident.

🔓 Attackers reportedly exploited a third-party security vulnerability
🧩 Fraudulent transaction data allegedly bypassed internal authorization checks
💰 Loss revised from $351.6M → ~$387.5–$388M
❄️ CEO says private keys & cold wallets were not compromised
🛡️ Bitget says its protection fund will cover the losses

🔄 Withdrawals began reopening Sept. 28, starting with Bitcoin after security checks.

🇰🇵 The CEO said activity was consistent with known North Korea-linked patterns, but this remains an attribution assessment, not a final law-enforcement conclusion.

⚠️ The incident highlights how exchange backend systems and approval workflows can become critical security risks.

#Bitget #CryptoSecurity #Bitcoin #Crypto #Blockchain

🚨 BITGET WITHDRAWALS RESUME 🚨

Bitget has reportedly started resuming cryptocurrency withdrawals following a reported $388M security incident.

🔐 Users are closely watching the exchange as withdrawal services gradually return to normal.

📌 This is an important development for the crypto community. Stay alert, verify official updates, and keep your assets secure.

#Bitget #Crypto #Bitcoin

#bitgetdetailssecurityincidenttimeline
🚨 BITGET JUST REVEALED THE FULL SECURITY INCIDENT TIMELINE.
On September 24, Bitget detected unauthorized transfers from part of its hot and warm wallet infrastructure. The estimated affected amount was later revised from $351.6M to $387.5M after additional transactions were identified.
⏰ 18:31 UTC: Unauthorized transfers detected
🛑 Same day: Withdrawals temporarily suspended
🔍 Sept. 25: Attack path identified and vulnerability fixed
💰 $387.5M: Revised total affected amount
🛡️ Cold wallets: Not affected
🏦 Protection Fund: Over $464M
📅 Sept. 28: BTC withdrawals scheduled to begin returning in phases
Bitget says the incident is contained, user account balances remain unaffected, and Mandiant + SlowMist are assisting with the investigation.
🔥 Now the big question:
Will Bitget's phased withdrawal restart restore confidence — or will traders remain cautious? 👀
#Bitget #crypto #security

JUST IN: THE CHINESE HACKER WHO STOLE $370M FROM BITGET EXPRESSES THAT HE NEEDS SUPPORT FROM THOR CHAIN TO LAUNDER THE FUNDS

“I’M VERY WORRIED. LOSING MY ASSETS WOULD CAUSE A LOT OF TROUBLE IN MY LIFE”
#Bitget #HackerAlert

@FINANCE-JACK

Bitget is stepping up its recovery after the massive $388 million exploit, getting Bitcoin withdrawals back online while phased rollouts for ETH and USDT follow this week. The attacker's quick move to launder funds through THORChain highlights ongoing cross-chain security hurdles for centralized platforms. While restoring user access is crucial for rebuilding confidence, this incident serves as another reminder of why robust liquidity monitoring and immediate bridge defenses matter in DeFi and CeFi integration. $BTC $ETH $RUNE #Bitget #CryptoSecurity #THORChain

🚨 $388M CRYPTO SECURITY SHOCK 🚨
Bitget's reported loss from the recent exploit was revised to around $387.5M. BTC withdrawals have begun resuming in stages.
This is your reminder:
🔐 Don't keep everything on exchanges
🛡️ Use strong 2FA
📱 Verify withdrawal addresses
🚫 Never approve suspicious transactions
In crypto, security isn't optional.
#Bitget #CryptoSecurity #Bitcoin #Crypto #Web3

#BitgetCEOConfirms$388MStolenInHac
Bitget has confirmed approximately $388M in stolen crypto following a security breach affecting several hot/warm wallets. The incident may increase short-term market volatility and investor caution.
Bitget says its User Protection Fund will cover affected users, while the stolen assets are being traced and recovery efforts continue.
📊 Market Watch: Expect elevated volatility around exchange-related news.$DYOR.US DYOR and manage risk carefully.
#Bitget #crypto #Bitcoin #BTC #CryptoNews