Customers Pull $463 Million From Bitget: The Consequences for Reserves and Custody

Customers pulled around $463 million out of the trading platform Bitget within 24 hours. That is the largest single-day outflow the data service DefiLlama has measured at a centralised exchange since it started tracking reserves four years ago, and it falls exactly in the days in which Bitget is reopening the withdrawals it froze after the attack of September 24. The user protection fund meant to absorb the damage has dropped from more than $464 million to less than $200 million in the process. Bloomberg reported the figures on September 29, 2026. For investors in Europe the episode matters for two reasons. First, the withdrawal timetable still runs until October 2, and any remaining balances on frozen accounts hang on that date. Second, the case shows where the counterparty risk of an exchange can actually be read off: in reserves, fund size and outflows, not in marketing promises. How the $463 Million Outflow Figure Comes About DefiLlama follows the publicly known wallet addresses of large trading venues and nets inflows against outflows. A net outflow means more value left the exchange addresses than arrived. The $463 million are therefore not losses but customer assets that mov...