Bitget Revises Security Breach Impact to $388 Million as Withdrawals Remain Paused
Key Takeaways
- •Bitget raised its estimated breach losses to roughly $388 million, about $35 million above the $352 million figure first disclosed on Thursday.
- •Withdrawals on the platform remain paused, and the exchange has launched a bounty program to incentivize freezing or recovering the affected assets.
- •The revised total accounts for previously omitted assets on Zcash and TRON, and Bitget states the incident is contained with no further unauthorized transfers possible.
- •The stolen funds are spread across EVM networks, the XRP Ledger, Zcash, and TRON, spanning assets such as XRP, Ether, USDt, ZEC, and USDC, which makes tracing and recovery more difficult.
- •The breach ranks among the largest in crypto history but remains far smaller than Bybit's roughly $1.5 billion theft in February 2025, and the update did not address the CEO's speculation about North Korean involvement.
Crypto exchange Bitget has released an updated incident report on Thursday's security breach, clarifying that approximately $388 million in assets were affected — not the $352 million initially reported.
In a Friday update, Bitget said withdrawals would remain paused following the breach — a measure that blocks users from moving funds off the platform until service is restored — and announced a bounty program to incentivize the freezing or recovery of the affected assets. Based on onchain tracing, the exchange confirmed that "$387.5 million were transferred to attacker-controlled addresses" — about $35 million more than disclosed on Thursday.
"The revised figure reflects a more complete accounting of transfers that occurred during the incident, adding affected assets on Zcash and TRON that were not included in the initial estimate," Bitget said in its updated incident report. "It does not reflect further unauthorized transfers. The incident remains contained and no further unauthorized transfers are possible."
According to the exchange, the incident involved addresses on Ethereum Virtual Machine (EVM) networks, the XRP Ledger, Zcash and TRON. Among the assets taken were XRP, Ether (ETH), Tether's USDt (USDT), Zcash (ZEC), USDC, USDT0, XAUt, BNB, AVAX and TRX. The spread across multiple chains and asset types complicates recovery efforts, since tracing and freezing funds requires coordination across different networks and issuers.
The follow-up report did not address comments made Thursday by CEO Gracy Chen, who speculated that a North Korean hacking group may have been behind the attack.
Even with the revised accounting, the Bitget breach ranks among the largest security incidents to hit the crypto industry. In February 2025, hackers stole roughly $1.5 billion worth of Ether from Bybit. Attention now turns to when Bitget resumes withdrawals and whether its bounty program results in recoveries of the affected assets.
