Bitget Customers Withdraw 4,000 Bitcoin After $388 Million Hack

Bitget customers withdraw — Bitget customers withdrew over 4,000 bitcoins, worth approximately $334 million, in a single hour after the exchange reopened withdrawals following a major security breach, CEO Gracy Chen confirmed.

Chen told Bloomberg Television that withdrawals have since stabilized after the initial surge. The hack, which occurred last week, resulted in the theft of $388 million from the Seychelles-based exchange’s hot wallets. The exchange has attributed the attack method to patterns consistent with North Korean hacker organizations.

In a post on X, Chen detailed that 9,585 orders processed the 4,098 bitcoin withdrawals. The exchange is allowing customers to withdraw funds in phases. Chen stated that no cold storage funds were compromised, explaining that attackers exploited vulnerabilities in third-party products to steal internal credentials and bypass risk controls.

The company is now using its own capital to replenish its protection fund, which reportedly fell below $200 million from $464 million pre-hack. Bitget, ranked sixth by trading volume, stated this was its first major security incident in eight years and that the situation is now contained.