Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait | CryptoAce VIP
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Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait

Category: Bitcoin Run Alpha Source published: Collected: Source: CryptoSlate
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Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait
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Story summary

Sept. 28 public fills show BTC and ETH futures activity before the scheduled 08:00 UTC Bitcoin withdrawal restart. The post Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait appeared first on CryptoSlate.

📌 Key Highlights & Takeaways

  • 28 public fills show BTC and ETH futures activity before the scheduled 08:00 UTC Bitcoin withdrawal restart.
  • The post Bitget says Bitcoin withdrawals are open after $387M hack, but ETH and USDT must wait appeared first on CryptoSlate.

At about 04:20 UTC Monday, Bitget's public feed showed BTC and ETH futures trades taking place after the exchange's Sept. 24 security breach. On Sept. 28, Bitget said it had opened BTC withdrawals on the Bitcoin network, the first stage of its phased plan. The notice says the service is open; it does not document a completed customer withdrawal. Trading activity and the ability to send assets off the exchange face separate tests.

Bitget said its security systems detected unauthorized transfers from some hot wallets at 18:31 UTC on Sept. 24. It suspended withdrawals while keeping trading and deposits open. The exchange initially estimated affected assets at about $351.6 million. A Sept. 25 update raised the estimate to approximately $387.5 million after it identified more transactions from the original incident; Bitget said the revision did not reflect additional unauthorized transfers.

Bitget says customer balances remain unaffected and its Protection Fund will cover the incident's financial impact. Those assurances come from the exchange. The practical question for customers is whether they can successfully transfer assets or trading proceeds out of their accounts.

The company's phased reopening plan sets 08:00 UTC for each of these dates:

The first scheduled restart was still ahead when the public trading snapshot was taken at 04:20 UTC. Bitget has since said BTC withdrawals on Bitcoin are open. Its service notice does not establish whether individual transfers have completed. A customer with ETH on a network scheduled for Sept. 29, for example, would face a different timetable from a customer withdrawing BTC on Bitcoin.

Bitget's public trade feed returned 100 BTCUSDT futures fills between 04:20:25 and 04:20:49 UTC on Sept. 28. It returned 100 ETHUSDT fills between 04:20:34 and 04:20:52 UTC. Those records show that the two USDT-margined contracts matched trades during those seconds. The records cover those two contracts and those seconds; other markets and customer-specific execution prices remain outside their scope.

Related Reading Swiss bank shields Bitget institutions while retail funds freeze

A separate snapshot around 04:21 UTC showed $22.14 million of displayed BTC futures buy and sell orders and $10.29 million of ETH orders within 0.05% of each contract's midpoint. That band counts orders priced no more than 0.05% away from the middle of the best buy and sell quotes. The BTC quoted spread was about 0.012 basis points and the ETH spread about 0.038 basis points.

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Source: CryptoSlate.

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