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Bitget has set a phased withdrawal schedule for September 28 through October 2, outlining its plan to reopen customer withdrawals after the September 24 security breach now estimated at about $387.5 million. Bitcoin withdrawals resume first, on September 28 at 08:00 UTC via the native Bitcoin network.
What happened
On September 26 the exchange announced the timetable and a revised loss estimate of roughly $387.5 million, up from a figure near $352 million. The increase reflects additional affected assets on the Zcash and TRON networks rather than new unauthorized transfers. The phased schedule: after Bitcoin on September 28, Ethereum withdrawals resume on September 29 across Ethereum, BNB Smart Chain, Arbitrum, Base and Optimism; USDT follows on September 30 across Ethereum, BSC, Solana and Tron; and XRP, BNB and AVAX withdrawals, plus fiat currencies and P2P settlements, return to normal on October 2. Bitget says the vulnerability has been identified and remediated. CEO Gracy Chen called the pause a security measure and said user account balances were not affected. It also launched a recovery bounty program with rewards totaling up to 10%.
Why it matters
Withdrawals have been frozen since September 24 across BTC, ETH, XRP and USDT, so this timetable directly affects anyone holding funds on the exchange. The phased design is a liquidity decision as much as a technical one: reopening assets in sequence limits the risk of a sudden wave of withdrawals pressuring the exchange’s hot wallets and the underlying networks. For the market, the announcement is a confidence signal — a firm reopening date beats an indefinite freeze. That signal is tempered by reporting that roughly $83 million of the stolen XRP has been moved by the attacker beyond the reach of Ripple’s freeze controls, which tempers expectations of a full recovery. The incident remains one of the industry’s largest breaches, though well below the roughly $1.5 billion stolen from Bybit in February 2025.
What to watch
The first test is whether Bitcoin withdrawals resume on September 28 without delays or backlog. After that, watch for recoveries announced through the bounty program, and for Bitget’s full post-mortem — particularly evidence that its user protection fund fully covered the losses.
Related reading: earlier Bull Lounge coverage of the breach.
Would you keep trading on Bitget after the phased reopening, or wait for the full post-mortem first?
https://www.tradingview.com/news/coinpedia:d405367e9094b:0-bitget-to-resume-btc-eth-and-xrp-withdrawals-with-10-bounty-program/
https://cointelegraph.com/news/what-happened-in-crypto-today
https://tradersunion.com/news/cryptocurrency-news/show/3514364-bitget-xrp-breach-attacker-moves-83m/
Auto-posted by the Bull Lounge news desk.
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