Bitget Restores Bitcoin Withdrawals After $388M Hack
Bitget has resumed Bitcoin withdrawals following a $388M hack, with Ether and USDt access returning later this week.
Bitget is back online for Bitcoin withdrawals after getting hit with one of crypto's ugliest hacks in recent memory — a $388 million breach that froze user funds and rattled confidence in the exchange. If you were locked out, the worst of the wait is over, at least for BTC holders.
The exchange is rolling out recovery in stages. Ether withdrawals are set to return Tuesday, with USDt access coming back Wednesday. That phased approach suggests Bitget's team is treading carefully — a smart move when you're trying to rebuild trust after nine figures walked out the door.
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Meanwhile, whoever pulled off this heist isn't sitting still. The hacker has been moving stolen ETH through THORChain, a cross-chain protocol that lets users swap assets across blockchains without a centralized intermediary. That's the classic post-hack playbook: convert fast, route through decentralized infrastructure, make tracing as painful as possible for investigators.
For traders still on the platform, the sequence of resumptions matters. Bitcoin first, then ETH, then stablecoins — that ordering likely reflects where Bitget feels most confident in its liquidity and security posture right now. Stablecoin withdrawals coming last could signal the exchange is being extra cautious around the most liquid, most immediately cashable assets.
The $388 million figure puts this breach in rare company. Exchanges have come back from hacks before, but user confidence is the hardest thing to recover. Watch how Bitget handles the full reopening this week — that execution will tell you more than any press release. Continue reading at Cointelegraph.
