Key facts
- Bitget resumed Bitcoin withdrawals on Monday following a security breach.
- The hack compromised approximately $387.5 million in assets.
- Ether withdrawals are scheduled to resume Tuesday, followed by USDT on Wednesday.
- The attacker is reportedly using THORChain to swap stolen Ether for Bitcoin.
- THORChain stated it cannot selectively freeze funds linked to the attack.
Crypto exchange Bitget has begun restoring withdrawal services after a significant security incident last week resulted in the loss of approximately $387.5 million in assets. Bitcoin withdrawals were resumed on Monday, with the exchange outlining a schedule for the return of other major assets. Ether (ETH) withdrawals are expected to be available on Tuesday, followed by Tether's USDt (USDT) on Wednesday, as the exchange completes ongoing security checks. The breach, which occurred on September 24, affected parts of Bitget's hot and warm wallet infrastructure, while its cold storage remained secure. The total stolen amount was revised upward from an initial estimate of $351.6 million to account for additional transfers. Meanwhile, the attacker is reportedly utilizing THORChain, a cross-chain decentralized exchange, to swap stolen Ether for Bitcoin. THORChain, however, has stated that its network halt is a broad security measure and does not allow for the selective freezing of specific funds or addresses, limiting its ability to comply with Bitget's requests to block the attacker's wallets.