Bitget Resumes Withdrawals, Confirms $464M Protection Fund Covers Hack Losses
Key Facts
Bitget announced the phased resumption of withdrawals following security validation of its infrastructure. Reuters reported that the exchange began restoring services in stages, with Bitcoin BTC withdrawals commencing at 4:11 a.m. on September 28, 2026, following a three-day suspension for security investigations.
The exchange confirmed its $464 million protection fund fully covers the losses from the recent security breach, estimated at $351.6 million. Bitget stated that the resumption of withdrawals for each blockchain depends on the completion of specific repairs and security checks, noting that its disclosed proof of reserves showed a 127% coverage ratio.
Latest Updates · 3
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Update: Bitget traced the September 25, 2026, attack to attackers using third-party security tools to forge withdrawal commands. The exchange confirmed that its investigation found private keys and cold wallets remained unaffected by the security breach.
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Update: Bitget's CEO stated that the security incident was caused by a third-party vulnerability. The executive noted that this marks the exchange's first breach in eight years of operation.
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Update: Bitget clarified that it will not grant priority withdrawal access to institutions, VIPs, or employees, ensuring equal treatment for all users during the recovery process. The exchange also plans to resume withdrawals for Ether and USDT next, with the timing dependent on security verification progress and user demand.