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Wednesday, Sep 30, 2026

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Bitget Restores Protection Fund Above $300M After $387.5M Hack

Bitget replenished its user protection fund to more than $300 million on Sept. 30, two days after pledging to restore the reserve used to cover losses from its $387.5 million hack. The crypto exchange recorded $231 million in deposits over the preceding 24 hours, compared with an August daily average of $245 million.

The replenishment follows a phased reopening of withdrawals, starting with Bitcoin on Sept. 28 and Ether on Sept. 29. Bitget has said users will be fully covered regardless of whether stolen funds are recovered. Investigator SlowMist found that attackers exploited a zero-day vulnerability in a third-party security product and used a customized withdrawal tool. CEO Gracy Chen said stolen internal credentials allowed fraudulent withdrawal commands to bypass risk controls without compromising wallet private keys.

Meanwhile, attackers allegedly linked to North Korea began moving about 2,700 ZEC, worth $3.8 million, into Zcash’s Ironwood shielded pool, blockchain investigator ZachXBT said. About 18,900 ZEC worth $28.3 million was stolen in the Sept. 24 breach. ZachXBT also alleged that Chinese actors were laundering proceeds for the suspected North Korean attackers through bridges and mixing services including Wasabi.

Image via @lookonchain on X
Continues from Thursday, Sep 24
NEAR Intents Blocks Over $50M in Bitget Hack Transfers as THORChain Refuses
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