**Bitget** began gradually restoring withdrawal functionality starting Monday, after around $388.8 million worth of assets were drained externally in a security incident that occurred on September 24. The first asset targeted for re-opening was Bitcoin (BTC).

Bitcoin withdrawal resumes in Phase 1

According to the company, withdrawals for the Bitcoin and BNB Smart Chain (BSC) networks resumed at 08:00 (UTC) that day. As of 09:00 (UTC), 9,585 Bitcoin withdrawal requests were processed, with a total withdrawal amount of about 4,098 BTC. Gracy Chen, CEO of the company, directly explained the incident and the response during a live AMA session held the same day.

Ethereum (ETH) withdrawals are scheduled to resume on September 29, and Tether (USDT) withdrawals on September 30. Other tokens, as well as fiat deposits and withdrawals, and P2P (person-to-person) services, are planned to be restored in stages starting October 2.

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Bitget hacking investigation status

According to Bitget’s statement on the incident, the attacker exploited vulnerabilities in a third-party security product, stole advanced internal privileges, and used them to send fraudulent withdrawal instructions designed to bypass risk controls. The company emphasized that, during this attack, the private key, cold wallet, and user balances themselves were not compromised.

An independent forensic investigation is supported by **Mandiant** and **SlowMist**, and, in coordination with industry partners, some leaked assets have been frozen. Bitget plans to publish an official security report within this week.

Bitget said that this breach was the first incident of its kind it had experienced in eight years since the exchange launched. In the meantime, Bitget has introduced a monthly “Proof of Reserves” disclosure and has been operating a “User Protection Fund” that has been built up to more than $464 million. It also added that the reserve ratio is at around 127%.

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