Bitget Hacker Moves $1.23 M of Ether via Binance Ahead of Withdrawal Reopen

A blockchain‑tracking wallet moved about $1.23 million worth of Ether from Binance to the address used in the recent Bitget hack. The transfers occurred on Sept. 25, two days before Bitget plans to reopen Bitcoin withdrawals.

How the Ether Was Refueled

On Sept. 25, the wallet 0x4885 withdrew 257.6 ETH (≈ $692,000) and 545,000 USDT from Binance. The USDT was swapped for an additional 200.2 ETH, and the combined 457.9 ETH (≈ $1.23 M) was sent to the Bitget attacker’s address in several separate transactions.

Bitget’s Withdrawal Schedule

Bitget announced a phased reopening of withdrawals:

• Sept. 28 – Bitcoin (BTC)
• Sept. 29 – Ether (ETH) on Ethereum, BNB Smart Chain, Arbitrum, Base, Optimism
• Sept. 30 – Tether (USDT) on Ethereum, BNB Smart Chain, Solana, Tron
• Oct. 2 – Remaining tokens, fiat and P2P services

Protection Fund Coverage

Bitget’s Protection Fund holds about 5,500 BTC, valued at roughly $462 million at the current price of $84,000 per BTC. The reported loss of $387.5 million represents about 84 % of the fund, implying coverage as long as BTC stays above roughly $70,500.

Unrecovered Assets

While Circle and Tether have frozen the wallet labeled “Bitget Exploiter 8,” other attacker wallets still hold more than 63,000 ETH and a large XRP position (~$157 million) that cannot be frozen.

Investigation Collaboration

Both Bitget and Binance said they are cooperating to trace the stolen funds. Binance withdrawals typically leave a verified account trace, providing investigators a path to follow.