Bitget Resumes Bitcoin Withdrawals After Suspected $387.5 Million Crypto Theft
Summary
Bitget resumed Bitcoin withdrawals after unauthorized transfers from its hot and warm wallets. The exchange revised the amount transferred to $387.5 million, said it fixed the exploited vulnerability, and is restoring other withdrawals in stages.
Key points
- Bitget said attackers made unauthorized transfers from a limited number of hot and warm wallets, prompting a pause on withdrawals.
- The exchange initially reported $351.6 million stolen, then revised the amount to $387.5 million transferred to attacker-controlled addresses based on updated on-chain analysis.
- CEO Gracy Chen attributed the incident to North Korean hackers, citing on-chain analysis and IP behavior; this attribution is not independently confirmed in the article.
- Bitget said attackers exploited a vulnerability in a critical backend system to spoof transaction data and trigger fund transfers.
- The company said it addressed the vulnerability, contained the incident, and that user balances remain unaffected; trading and deposits continued.
- Bitcoin withdrawals resumed, with withdrawals for other assets and networks scheduled to return in stages.
- Bitget launched a Recovery Bounty Program offering 5% for help recovering or freezing funds.
Article Details
- Victim Organization
- Bitget
- Incident Type
- Suspected cyber intrusion into Bitget's wallet infrastructure, followed by unauthorized transfers of cryptocurrency from hot and warm wallets.
- Operational Impact
- Bitget suspended withdrawals after detecting unauthorized transfers. Bitcoin withdrawals resumed, with withdrawals for other assets and networks scheduled to return in stages. Trading and deposits continued. Bitget said the incident was contained and user account balances remained unaffected.
- Ransom Or Extortion
- None reported. Bitget launched a Recovery Bounty Program offering a 5% bounty for help recovering or freezing funds.
- Claim Status
- confirmed