Bitget has reopened Bitcoin withdrawals on the Bitcoin network after a security breach in which the cryptocurrency exchange estimates about $387.5m (£290m) in assets were affected.
The exchange announced the first step in its phased reopening plan on 28 September. However, the notice confirms that the service is available, rather than proving that a customer withdrawal has successfully completed.
Ethereum withdrawals are scheduled to resume on 29 September, while USDT withdrawals are due to restart on 30 September. Other tokens, fiat withdrawals and peer-to-peer services are planned to return on 2 October. Each stage is scheduled for 08:00 UTC.
Bitget said its security systems detected unauthorised transfers from some hot wallets at 18:31 UTC on 24 September. Withdrawals were suspended, although trading and deposits remained available.
The exchange initially estimated the value of the affected assets at about $351.6m. On 25 September, it increased that estimate to approximately $387.5m after identifying further transactions connected to the original incident. Bitget said the revised figure did not represent additional unauthorised transfers.
The company has said customer balances remain unaffected and that its Protection Fund will cover the financial impact of the breach. Whether customers can transfer assets or trading proceeds away from their accounts remains the practical test of the reopening.
Under the published timetable, ETH withdrawals will be available on Ethereum, BSC, Arbitrum, Base and Optimism from 29 September. USDT withdrawals will follow on Ethereum, BSC, Solana and Tron on 30 September.
The exchange’s Bitcoin reopening announcement came after a public trading snapshot taken at about 04:20 UTC on 28 September. That snapshot showed activity in BTC and ETH futures before the first scheduled withdrawal restart. It did not establish whether individual withdrawals had been completed.
Bitget’s public trade feed recorded 100 BTCUSDT futures fills between 04:20:25 and 04:20:49 UTC, and 100 ETHUSDT fills between 04:20:34 and 04:20:52 UTC. The records confirm matched trades in those two USDT-margined contracts during those periods, but do not cover other markets or customer-specific execution prices.
A separate snapshot around 04:21 UTC showed $22.14m of displayed BTC futures buy and sell orders, and $10.29m of ETH orders, within 0.05% of each contract’s midpoint. The quoted spreads were about 0.012 basis points for BTC and 0.038 basis points for ETH.
A hypothetical $500,000 sell order would have averaged 0.0095% below the BTC midpoint and 0.0183% below the ETH midpoint before fees. The calculation assumes a static order book; no customer order produced those prices, and displayed orders may be cancelled, replenished or changed.
A TokenInsight study, based on nine venues sampled every 30 minutes from 16 August to 14 September, ranked Bitget first for combined BTC and ETH futures depth within a 0.05% band, with a median of $41.60m. Within a tighter 0.03% band, it ranked third at $15.25m behind MEXC and Hyperliquid. The study was completed before the breach, so it cannot measure a before-and-after change or establish a current ranking.
Futures trading shows displayed interest in derivatives, while withdrawals require successful transfers across the relevant networks. Bitcoin withdrawals are the first practical test of Bitget’s phased return, followed by the other assets and networks in its schedule.
