Bitget Sets Sept 26 Deadline for Withdrawal Plan as Hack Losses Hit $387M

Key Facts

1Bitget has set a September 26 deadline to present a restoration plan for withdrawals following their suspension.

2Estimated asset losses from the security breach have risen to approximately $387.5 million.

3The exchange is offering 5% rewards for freezing attacker funds and another 5% for recovery assistance.

Bitget has set a September 26 deadline to present a restoration plan for withdrawals following their suspension due to a security breach. TokenPost reported that estimated asset losses from the incident have risen to approximately $387.5 million, up from an initial estimate of $351.6 million. The exchange noted that the revised figure follows the identification of Zcash and TRON transfers during a further review and does not represent new unauthorized activity.

The exchange is offering 5% rewards for freezing attacker funds and an additional 5% for assistance leading to asset recovery through dedicated tracking channels. Market attention remains on recovery efforts and the management of the breach aftermath. Bitget stated it has not identified further unauthorized transfers and characterized the current situation as controlled.