Key highlights:
- Bitget has resumed USDT withdrawals across Ethereum, BSC, Solana, and Tron as the exchange continues its phased recovery from the $387.5 million hack
- BTC and ETH withdrawals are already live, while Bitget plans to restore other token, fiat, and P2P withdrawals on October 2
- Bitget says the exploited vulnerability has been fixed, with Mandiant and SlowMist assisting the ongoing investigation and fund recovery effort
The via X
The next major milestone is October 2 at 08:00 UTC, when Bitget plans to restore withdrawals for other supported tokens as well as fiat and P2P services. The exchange said the phased rollout applies equally to users and does not give priority to VIP or other account tiers.
Bitget records impressive deposit metrics
As Bitget recovers from the jarring security breach, emerging data indicates that the initial efforts to allay user fears have yielded benefits. Bitget disclosed that in the last 24 hours, it recorded $231 million in deposits, nearing its August daily average of $245 million.
“To everyone who stayed with us, thank you for your trust. We’re encouraged to see deposit activity returning towards normal levels as we move forward together,” read an official statement.
Meanwhile, the exchange’s futures trading volume climbed to $9.2 billion while open interest stood at $4.4 billion. Despite the scale of the incident, Bitget did not lose significant market share to its peers, with trading activity reflecting resilience.
To bolster confidence, Bitget published its Proof of Reserves, indicating strong financial positioning. Bitget has also launched a recovery bounty program offering eligible parties 5% of funds that they help freeze or recover.
Source:: Bitget Restores USDT Withdrawals After $387.5M Hack as Exchange Tightens the Screws