Bitget has reopened Bitcoin withdrawals on the Bitcoin network, four days after the cryptocurrency exchange detected unauthorized transfers from some of its hot wallets. The move is the first step in a phased return of off-platform transfers following a breach that the exchange now estimates affected about $387.5 million in assets.
The reopening notice confirms that the service is available, but it does not establish that any individual customer withdrawal has successfully reached its destination. Ethereum and USDT withdrawals remain subject to later stages of Bitget’s timetable, leaving customers with different access depending on the asset and network they use.
According to CryptoSlate, the exchange’s public feed also showed Bitcoin and Ethereum futures trades on Sept. 28, while withdrawals were still being assessed as part of the post-breach recovery. The trading records and the reopening of withdrawals represent separate tests: derivatives can continue matching orders even when customers cannot move assets away from the platform.
What happened at Bitget
Bitget said its security systems detected unauthorized transfers from some hot wallets at 18:31 UTC on Sept. 24. Hot wallets are online cryptocurrency wallets used to support operational transfers and withdrawals. Following the incident, the exchange suspended withdrawals but kept trading and deposits open.
Bitget first estimated that approximately $351.6 million in assets had been affected. On Sept. 25, it revised that figure to about $387.5 million after identifying additional transactions connected to the original incident. The exchange said the higher estimate did not represent further unauthorized transfers, but reflected a broader assessment of the same event.
Bitget has said that customer balances remain unaffected and that its Protection Fund will cover the financial impact. Those statements come from the exchange. For customers, the practical question is whether assets and trading proceeds can be transferred successfully out of their accounts as each withdrawal route reopens.
Trading activity is not proof of completed withdrawals
Bitget’s public trade feed recorded 100 BTCUSDT futures fills between 04:20:25 and 04:20:49 UTC on Sept. 28. It also recorded 100 ETHUSDT fills between 04:20:34 and 04:20:52 UTC. These records show matched trades in the two USDT-margined contracts during those brief periods; they do not describe all markets or confirm the execution prices available to any particular customer.
A separate snapshot taken at about 04:21 UTC showed $22.14 million of displayed Bitcoin futures buy and sell orders and $10.29 million of Ethereum orders within 0.05% of each contract’s midpoint. In that measurement, the quoted Bitcoin spread was about 0.012 basis points, while the Ethereum spread was about 0.038 basis points.
The figures describe a single point in time while withdrawals were suspended. Orders can be canceled, replenished or changed, and the snapshot does not show that a customer placed a specific trade. A futures order book reflects displayed interest in a derivative; it does not demonstrate that cryptocurrency can be converted and transferred across a blockchain network.
Phased reopening and current market picture
Bitget’s plan uses scheduled stages, with 08:00 UTC set as the restart time for each listed date. The exchange has now said Bitcoin withdrawals on the Bitcoin network are open. Ethereum and USDT withdrawals are scheduled for later stages; a customer holding ETH on a network scheduled for Sept. 29 would therefore face a different timetable from one attempting to withdraw BTC on Bitcoin.
The next practical test is whether Bitcoin withdrawals complete in practice, followed by the reopening of each remaining asset and network. The service notice itself does not document a completed customer transfer.
Moneyiar market data at the stated times showed Bitcoin at $83,820.0482, down 0.61% over 24 hours and up 3.2% over seven days, as of Sept. 25 at 22:04 +03:30. Ethereum stood at $2,681.7029, down 0.13% over 24 hours and up 2.05% over seven days, as of Sept. 25 at 22:03 +03:30. Tether USDt was priced at $0.9998097, with a 0.01% 24-hour change and a 0.01% seven-day change at the same stated time.
The wider historical context in the source comes from a TokenInsight study that sampled nine venues every 30 minutes from Aug. 16 through Sept. 14, before the breach. It ranked Bitget first for combined Bitcoin and Ethereum futures depth within a 0.05% band, with a median of $41.60 million. At the tighter 0.03% band, Bitget ranked third at $15.25 million, behind MEXC and Hyperliquid. Because the study ended before the incident, it cannot measure a before-and-after change or establish a current ranking among exchanges.
