Bitget has increased its estimate of assets stolen in a September 24 breach to $387.5 million, up from an initial $351.6 million assessment. The revised figure reflects additional Zcash and TRON holdings identified through on-chain tracing, according to Chief Executive Officer Gracy Chen.
The exchange detected unauthorized transfers from hot wallets at 18:31 UTC on September 24 and immediately suspended withdrawals while maintaining deposits and trading. Bitget said its security team has identified and patched the underlying vulnerability, and investigations with blockchain security firms Mandiant and SlowMist continue.
Industry Coordination on Asset Recovery
Bitget is working with multiple exchanges and infrastructure providers to freeze and recover stolen funds. Binance and Bybit have publicly committed to supporting the recovery effort, with Bybit agreeing to track stolen assets through its LazarusBounty platform.
The exchange has published a real-time tracing dashboard, a reporting portal, and an API containing attacker addresses to enable exchanges, stablecoin issuers, bridges and other providers to monitor the funds.
Recovery Bounty Program
Bitget announced a Recovery Bounty Program offering rewards tied to recovery outcomes. Eligible parties whose actions freeze stolen funds can receive 5% of the amount successfully frozen. The exchange is separately offering 5% of funds successfully recovered through eligible voluntary efforts. Bounties from freezes secured before the program's announcement also qualify.
Actions carried out under court orders, law enforcement requests, or other compulsory legal processes are excluded from the program. Bitget will determine eligibility and bounty amounts.
Withdrawal Status and Customer Protection
Withdrawals remain suspended more than a day after the breach. Bitget said it would announce its withdrawal plan by September 26 at 04:00 UTC, though the company has not confirmed withdrawals will resume at that time. Technical teams are validating remediated systems and completing required checks before service can resume.
Bitget previously confirmed that customer balances remained accurate and that its User Protection Fund, which held more than $464 million at the time of disclosure, covers losses. The revised theft estimate narrows the fund's coverage cushion to approximately $76.5 million before accounting for any recovered assets.
