Bitget Restarts Bitcoin Withdrawals; Nearly 5,000 BTC Exit Exchange Post-Hack
Bitget resumed Bitcoin withdrawals on September 28 following its $387.5 million hack, processing over 4,000 BTC in the first hour alone. On-chain data confirms substantial Bitcoin movement from the exchange as both users and hackers extract assets.
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Story Updates
- Updated Sep 29, 2026, 11:09 PM: Confirmed 4,000+ BTC user withdrawal within first hour post-resumption via Bitcoin Magazine reporting.
- Updated Sep 29, 2026, 11:01 PM: Bitcoin Magazine confirms over 4,000 BTC withdrawn within first hour of withdrawal restart, accelerating user asset recovery pace.
- Updated Sep 29, 2026, 12:08 AM: Bitget resumed Bitcoin withdrawals September 28; nearly 5,000 BTC exited exchange as hackers began laundering stolen funds.
- Updated Sep 27, 2026, 01:12 AM: Bitget announces phased withdrawal restart timeline beginning September 28; independent auditors Mandiant and SlowMist confirmed as investigators.
Withdrawal Restart and Rapid BTC Outflow
Bitget began processing Bitcoin withdrawals on September 28 at 17:00 UTC+8, fulfilling 9,585 orders totaling 4,098.036 BTC according to CEO Gracy Chen. Within the first hour of the withdrawal window, users withdrew over 4,000 BTC, according to reporting from Bitcoin Magazine and the exchange. The exchange had previously committed to a phased restoration starting with Bitcoin, followed by other assets through early October.
Hacker Asset Movement Concurrent with Legitimate Withdrawals
Nearly 5,000 BTC left Bitget's monitored holdings as the exchange resumed operations, with on-chain monitoring by DefiLlama confirming significant Bitcoin outflow during the first hours of the withdrawal window. The timing of the hacker transfers coincides with Bitget's withdrawal restart, creating a window where both legitimate users and attackers can extract funds simultaneously. This overlap complicates forensic tracking and increases the urgency of the bounty program Bitget announced earlier, which offers 5% recovery rewards to parties who freeze stolen assets.
Vulnerability Remediation and Investigation Status
Bitget said the underlying vulnerability has been remediated to prevent further unauthorized transfers. Security firms Mandiant and SlowMist are independently participating in the investigation alongside Bitget's internal team. The exchange has not disclosed the specific nature of the attack vector or provided a timeline for restoring full withdrawal access to all user assets.
Why It Matters
For Traders
Bitcoin withdrawal throughput is functioning at volume but network congestion and mixed hacker activity may delay deposit confirmation; verify on-chain status independently.
For Investors
Rapid simultaneous withdrawal of 4,000+ BTC within an hour suggests Bitget maintains operational liquidity but complicates forensic recovery; user loss compensation terms remain undisclosed.
For Builders
Exchange liquidity disruption patterns under attack conditions show DEX and bridge infrastructure under sustained load; protocols should prepare for sustained settlement friction scenarios.
This article is for information only and is not financial advice. Read the full disclaimer.
