Bitget updates breach total to $388M in affected assets
The exchange raised its initial estimate after identifying additional stolen funds on Zcash and TRON networks.
The short answer
Bitget clarified that $388 million in assets were stolen in a Thursday security breach, up from an initial $352 million estimate. The revision accounts for affected assets on Zcash and TRON identified during analysis. The exchange said the incident is contained and covered by its User Protection Fund.
What happened
Bitget released an updated incident report Friday, revising the total assets affected in Thursday's security breach to $388 million from its initial $352 million estimate. The exchange said $387.5 million were transferred to attacker-controlled addresses based on onchain tracing.
The exchange detected unauthorized transfers from hot wallets at 18:31 UTC on Thursday and immediately suspended withdrawals while keeping deposits and trading operational. The breach affected multiple cryptocurrency networks and tokens including ETH, XRP, USDT, USDC, AVAX, BNB and others across Ethereum Virtual Machine networks, the XRP Ledger, Zcash and TRON.
Bitget said the incident remains contained and confirmed no further unauthorized transfers are possible. The exchange activated emergency response procedures, flagged abnormal addresses, contacted law enforcement and engaged onchain security firms.
Why it matters
Bitget's User Protection Fund, which holds more than $464 million, fully covers the stolen assets. The exchange confirmed user account balances remain accurate despite the theft. Bitget also launched a bounty program to incentivize freezing or recovering the stolen funds.
The breach ranks among the largest security incidents affecting crypto exchanges. Early reporting captured a lower amount because the incident extended beyond initial onchain analysis, with additional transfers identified on Zcash and TRON during Bitget's internal review.
What is still unclear
- Bitget has not provided details on the specific timeline for when withdrawals will resume, saying only that a security review is underway.
Questions readers ask
What assets were stolen in the Bitget breach?
Stolen assets included Ether, XRP, Tether's USDT, Zcash, USDC, BNB, Avalanche and others across multiple networks including Ethereum, XRP Ledger, Zcash and TRON.
Does Bitget's User Protection Fund cover the loss?
Yes. Bitget's User Protection Fund holds more than $464 million, which fully covers the $388 million in affected assets. User account balances remain accurate.
When will Bitget resume withdrawals?
Bitget has not specified a timeline, stating only that withdrawals remain temporarily suspended while the exchange conducts a security review.
Is the Bitget breach contained?
Yes. Bitget confirmed the incident is contained and no further unauthorized transfers are possible. Cold wallets remained unaffected.