Bitget, a major cryptocurrency exchange, has resumed Bitcoin (BTC) withdrawals following reports of a security incident described by some sources as a $388 million hack. The withdrawal restoration is a meaningful operational update, but many details about the incident remain unconfirmed and the investigation appears to be ongoing.
BTC Withdrawals Resume After Reported Security Incident
Bitget has restored Bitcoin withdrawal functionality for its users. For anyone holding BTC on the platform, this means the ability to move funds off the exchange has returned after what appears to have been a temporary suspension tied to a security event. For related coverage, see Solana Hits 2026 High as $18M Shorts Liquidated.
The resumption of withdrawals does not necessarily signal that the broader situation has been resolved. Exchange security incidents often involve phased service restorations, and the investigation into what happened, and how much was lost, can take days or weeks to complete. For related coverage, see Binance Wallet Adds USDT Gas Fee Payments on Four Networks.
This is not the first withdrawal disruption Bitget users have faced recently. The exchange had already disabled XRP withdrawals as 27.63 million stolen XRP was tracked across accounts, suggesting the platform has been contending with security issues across multiple assets simultaneously.
What the Reported $388 Million Figure Actually Means
The $388 million loss figure comes from external reports and should be treated as an estimate, not a confirmed total. At the time of writing, no verified transaction hash, official exchange statement, or on-chain confirmation has been provided to independently establish this number.
Early loss estimates in exchange security incidents frequently shift as investigators trace assets across wallets, identify the attack method, and separate affected funds from unaffected ones. Exchanges sometimes dispute third-party figures significantly once their own internal review is complete.
Without confirmed on-chain data linking specific wallet addresses or transaction IDs to the alleged breach, the $388 million figure remains a reported claim. Readers should treat it accordingly until Bitget or a credible on-chain analysis confirms the scope.
What Bitget Users Should Do Now
BTC withdrawals resuming is one service update. It does not confirm that all other assets and services are back to normal. There is no verified information available about the status of other coins, user balance impacts, or whether customer funds were directly affected.
Users with funds on Bitget should monitor the exchange’s official communications directly. Official platform announcements are the most reliable source for current service status, not third-party estimates or social media speculation about incident scope.
For anyone new to crypto: when an exchange pauses withdrawals, it means customers temporarily cannot move their coins off that platform to their own wallets or elsewhere. Resuming withdrawals restores that ability, but it does not automatically mean every underlying problem has been fixed. Bitcoin ETF inflows and broader market conditions remained separate from this exchange-specific issue.
Anyone considering moving funds should verify Bitget’s current official status before acting. As more information emerges about the incident’s scope, remediation steps, and any effect on user balances, the picture will become clearer. The regulatory environment around exchange security continues to draw increased scrutiny from financial authorities globally, which may accelerate how quickly Bitget is required to disclose confirmed details.
Additional source references: source document 1, source document 2.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always consult a qualified financial professional before making investment decisions.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
