Bitget resumes Bitcoin withdrawals as hacker swaps ETH via THORChain
Ether withdrawals are scheduled to return Tuesday and USDt on Wednesday as Bitget restores services following last week’s $388 million hack.
Bitget, the cryptocurrency exchange, has resumed Bitcoin withdrawals following a security breach that resulted in a $388 million loss. The exchange had initially suspended withdrawals on September 24th after the attack, which compromised parts of its hot and warm wallet infrastructure. Bitcoin withdrawals on the Bitcoin network and the BNB Smart Chain were among the first to resume, according to Bitget CEO Gracy Chen.
Ether (ETH) and USDt (USDT) withdrawals are set to follow on Tuesday and Wednesday, respectively, as Bitget completes its security checks. The exchange expects other assets and peer-to-peer services to return on Friday. Bitget has also called on decentralized protocol THORChain to deny services to addresses connected to the attack.
THORChain, which facilitates asset swapping between blockchains, stated that its network halt is an emergency security measure affecting the protocol broadly and not a selective freeze of specific funds.
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