Bitget resumes phased withdrawals after $388 million security exploit

CryptoVideos brief
Built from 11 sources 28 Sep 2026 · 10:36 UTC 1 min read Main editor: Earl Jacobson

Crypto exchange Bitget lost roughly $388 million in a September 24 security incident where attackers spoofed backend wallet system data to trigger authorized fund transfers. The exchange has remediated the underlying vulnerability, confirmed its User Protection Fund covers the full loss, and launched a phased withdrawal resumption process. BTC withdrawals reopened on September 28, with full restoration of all services set for October 2.

Key points

Attackers spoofed backend wallet system data to trigger authorized fund transfers.
The exchange's User Protection Fund covers the full amount of the stolen funds.

Why it matters

The incident highlights backend wallet infrastructure risks for crypto exchanges. Bitget's use of its protection fund to cover user losses sets a precedent for exchange security loss coverage.

What's unclear

The discrepancy between the $464 million pre-exploit fund size and the referenced $300 million baseline is unexplained

The full list of stolen assets and total frozen funds are not confirmed across both reports

Price context · BTC

At publication

$82,776.00

Now

$80,991.00

Change since

−2.16%

7 days

Sources · 11 publishers

Crypto Daily Tier 3 First report 28 Sep, 09:01 UTC

Bitget Schedules Phased Bitcoin Withdrawal Restart After $387.5M Wallet Breach

Unchained Tier 1 28 Sep, 10:18 UTC

Bitget Reopens Bitcoin Withdrawals, Starting Phased Restart After $388 Million Hack

Blockonomi Tier 3 28 Sep, 10:18 UTC

Bitget Withdrawals Resume in Phases After $388 Million Exploit

Crypto.news Tier 2 28 Sep, 10:33 UTC

Bitget resumes BTC withdrawals after $388M hack

Cointelegraph Tier 1 28 Sep, 11:05 UTC

Bitget resumes Bitcoin withdrawals as hacker swaps ETH via THORChain

The Defiant Tier 1 28 Sep, 12:16 UTC

Bitget Reopens Bitcoin Withdrawals After $387.5 Million Breach

BeInCrypto Tier 2 28 Sep, 13:12 UTC

Bitget Resumes Withdrawals In Phases After Security Incident

U.Today Tier 2 28 Sep, 13:16 UTC

Bitget Details $388 Million Security Incident as BTC Withdrawals Resume

Bitcoin.com News Tier 2 28 Sep, 16:05 UTC

Bitget Restarts Bitcoin Withdrawals as $388M Hack Investigation Widens

The Daily Hodl Tier 2 28 Sep, 20:59 UTC

Crypto Exchange Bitget Says Hacker Exploited Vulnerabilities From Third-Party Products To Pull Off Last Week’s $388,000,000 Exploit

CoinGape Tier 2 29 Sep, 00:55 UTC

Bitget Resumes Crypto Withdrawals After $388M Security Breach

Coverage timeline

Sep 28, 09:01First reported by Crypto Daily
Sep 28, 10:18Also reported by Unchained
Sep 28, 10:36CryptoVideos brief published
Sep 28, 11:05–00:557 more publishers added to sources

How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error