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Bitget Schedules Phased Withdrawal Resumption After $387.5M Hack

After a massive security breach resulted in $387.5 million in unauthorized transfers, Bitget has announced a phased restoration of withdrawal services. The exchange, which paused operations following the September 24 incident, plans to reopen Bitcoin transfers on September 28 at 08:00 UTC, followed by staggered availability for other assets.

Bitget Schedules Phased Withdrawal Resumption After $387.5M Hack

The exchange's technical team reports that vulnerabilities linked to the attack have been resolved. Bitget is currently conducting final security audits with support from cybersecurity firms Mandiant and SlowMist. While the platform maintained trading and deposit functions throughout the suspension, it emphasized that customer account balances remain intact. The exchange plans to cover the financial impact of the theft using its $464 million protection fund.

Following the initial Bitcoin restart, the platform will enable Ether withdrawals on September 29, followed by USDT on September 30. Remaining tokens, fiat services, and peer-to-peer transactions are slated for October 2. CEO Gracy Chen has noted potential parallels to previous attacks linked to North Korean actors, though no formal attribution has been established by government agencies. Security researchers tracking the stolen funds have identified significant USDC movements, prompting questions regarding the ability of issuers like Circle to freeze assets involved in such exploits.

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