Bitget Resumes Bitcoin Withdrawals After $387 Million Security Breach

Key Facts

1Bitget CEO Gracy Chen confirmed the processing of over 9,500 withdrawal orders totaling approximately 4,100 BTC after resuming services.

2Nearly 5,000 BTC left Bitget's reserves as hackers began laundering the $387.5 million haul following the resumption of withdrawals.

Bitget CEO Gracy Chen confirmed the processing of over 9,500 withdrawal orders totaling approximately 4,100 BTC after resuming services. Reuters reported that the exchange reopened withdrawal functionality four days after a security breach resulted in the theft of $387.5 million in assets.

Nearly 5,000 BTC left the exchange's reserves as hackers began laundering the stolen funds, according to Reuters. These significant outflows occurred as the platform addressed a surge in user transactions immediately following the technical recovery of its withdrawal systems.