Bitget releases withdrawal schedule after $350 million hack
Bitget cryptocurrency exchange has released a timeline for restoring withdrawals after a security breach led to the unauthorized transfer of between $350 million and $387.5 million from its hot and warm wallets. The exchange said the incident, detected on September 24, has been contained and the vulnerability responsible for the attack has been fixed. According to Bitget, user balances remain unaffected and are backed by its User Protection Fund, which holds more than $464 million in publicly verifiable assets. The breach was identified at 18:31 UTC on September 24 after Bitget’s security systems detected unusual outflows. Investigators found that attackers gained access to a critical backend component within the exchange’s wallet infrastructure and used spoofed transaction data to trigger legitimate authorization processes. Bitget stated that private keys were not compromised and that its cold wallet reserves remained secure throughout t...