Bitget reopens withdrawals after major security breach drains roughly $388 million

Bitget, one of the world’s largest centralized crypto exchanges, has begun letting users pull their money out again after a security breach on September 24 siphoned off approximately $388 million from its operational wallets. The exchange’s tracked reserves have dropped to around $5.7 billion, and roughly $463 million in customer outflows piled up within the first 24 hours of withdrawal resumption alone. What happened and how withdrawals are returning The attack exploited a zero-day vulnerability in a third-party security application. Attackers were able to spoof transactions by obtaining internal credentials, though Bitget says private keys and cold wallets were never compromised. Bitget suspended withdrawals immediately after detecting the breach while keeping trading and deposits operational. The resumption has been phased rather than all-at-once: Bitcoin withdrawals came back online on September 28, Ethereum on September 29, and USDT on September 30. Other assets and peer-to-peer transactions are targeted for October 2. The exchange processed over 4,098 BTC in withdrawals shortly after the Bitcoin window reopened. Prior to the hack, Bitget’s total balance sat above $6.7 billion...