Nearly 5,000 BTC leaves Bitget as hackers begin laundering $387.5 million haul after withdrawals resume
Crypto exchange Bitget has seen nearly 5,000 Bitcoin leave its tracked reserves after it reopened withdrawals following a $387.5 million hack. Bitget CEO Gracy Chen stated that as of 17:00 UTC+8 on Sept. 28, the exchange had processed 9,585 withdrawal orders totaling 4,098.036 BTC shortly after resuming Bitcoin withdrawals. Separate DeFiLlama data showed Bitget's tracked Bitcoin balance falling by approximately 4,642 BTC, representing about $391 million. Bitget plans to restore Ethereum withdrawals on Sept. 29, USDT on Sept. 30, and other tokens by Oct. 2. The exchange attributes the attack to vulnerabilities in third-party products, which allowed attackers to bypass risk controls. Bitget has isolated affected systems and is working with blockchain security firms like Mandiant and SlowMist to trace the stolen assets. The exchange has pledged to cover all customer losses and plans to replenish its Protection Fund to over $300 million within a week. Meanwhile, blockchain investigator ZachXBT reported that Chinese illicit actors are allegedly laundering the stolen funds, linked to North Korea, across various cross-chain protocols and mixing services, including Wasabi and THORChain. THORChain has refused to intervene, citing its censorship-resistant nature, a stance challenged by GoPlus, which argues THORChain's architecture allows for intervention.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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