UPDATE: Bitget resumes Bitcoin withdrawals as hack loss estimate rises to $390 million
CIE News ·
Bitget resumed Bitcoin withdrawals on September 28 following an updated $390.06 million exploit, which stemmed from a third-party security vendor credential breach.
As previously reported, Bitget suffered an exploit targeting its wallet infrastructure on September 24. Bitget began a phased restoration of services by resuming Bitcoin (BTC) withdrawals on September 28. Updated estimates now indicate attackers stole up to $390.06 million across multiple networks, specifically affecting Ethereum, Arbitrum, and Avalanche.
Investigations revealed the attack vector stemmed from a third-party security vendor vulnerability that led to credential theft and backend transaction data spoofing, rather than a direct private key compromise. The perpetrators have reportedly begun laundering the stolen assets through THORChain. Bitget utilized 5,500 BTC from its $464 million User Protection Fund to cover user balances and maintain operational liquidity.