PANews to discuss Bitget security incident as withdrawals resume after $390 million hack

Sep 29, 2026 10:46 (26d ago)

PANews will host a Sept. 30 discussion on Bitget’s security incident and phased withdrawal reopening, with the exchange scheduled to resume P2P withdrawals on Oct. 2.
More than 4,000 bitcoin worth over $334 million left Bitget within an hour of withdrawals resuming, while the disclosed breach estimate was about $387.5 million, or roughly $390 million.
Bitget reported 131% reserves across 19 assets, but Bloomberg reported that its User Protection Fund had fallen below $200 million as the exchange pursued recovery efforts.

PANews will host a discussion at 16:30 on Sept. 30 as Bitget continues a phased withdrawal reopening after attackers moved about $387.5 million from internet-connected wallets on Sept. 24. More than 4,000 bitcoin worth over $334 million was withdrawn within an hour of access resuming, although CEO Gracy Chen said flows later stabilized. Bitget will resume peer-to-peer withdrawals at 5 p.m. Korea time on Oct. 2, while the event will examine recovery efforts, reserve coverage, the User Protection Fund and disputes involving THORChain.

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