Bitget Raises Hack Estimate To $387.5M And Sets Withdrawal Restart Plan
TL;DR Bitget has increased the confirmed value of assets transferred to attacker-controlled addresses from $351.6 million to about $387.5 million. The exchange says the underlying vulnerability has been identified and remediated. Withdrawals are scheduled to return in stages beginning with Bitcoin on September 28 and continuing through October 2. Bitget has published a substantial update on this week’s security breach, increasing the confirmed amount transferred to attacker-controlled wallets and laying out a timetable for restoring withdrawals. The exchange now puts the affected assets at approximately $387.5 million, up from its initial estimate of $351.6 million. Bitget says the change reflects additional assets identified during transaction tracing rather than a second wave of unauthorized transfers. The Vulnerability Has Been Patched, Bitget Says According to the exchange, its security team has now identified the attack path and the method used to bypass existing controls. Bitget says the underlying vulnerability has been remediated and that no further unauthorized transfers are possible. Independent teams from Mandiant and SlowMist are participating in the investigation. The revised loss estimate includes assets across multiple networks, including Ethereum and other EVM chains, XRP Ledger, Zcash and TRON. Bitget has also launched a recovery bounty program. Eligible parties whose voluntary actions directly result in funds being frozen or recovered can receive a bounty calculated as a percentage of the assets secured. The exchange says some funds have already been frozen through coordination with industry partners. Withdrawals Will Return In Stages Bitget plans to reopen withdrawals gradually rather than turning everything back on at once. Bitcoin withdrawals are scheduled to resume first on September 28. Ether withdrawals across several supported networks are expected to follow on September 29, with USDT withdrawals scheduled for September 30. Other tokens, fiat services and peer-to-peer withdrawals are planned to return by October 2.
Key Takeaways
- TL;DR Bitget has increased the confirmed value of assets transferred to attacker-controlled addresses from $351.6 million to about $387.5 million.
- The exchange says the underlying vulnerability has been identified and remediated.
- Withdrawals are scheduled to return in stages beginning with Bitcoin on September 28 and continuing through October 2.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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