Bitget Suspends Withdrawals After Attack: What Did It Tell Users?

Bitget has temporarily suspended withdrawals following the attack until its security review is complete; deposits and trading remain available.

In a statement on September 24, crypto exchange CEO Gracy Chen reported that unauthorized transfers had occurred from some hot wallets and that $351.6 million in assets had been affected by the security breach.

For users, the latest development is the temporary suspension of withdrawals. Chen said withdrawals would remain suspended until the security review is complete, while deposits and trading would continue. The statement did not give a specific time for when withdrawals would resume.

Statement on user funds and the protection fund

Chen said that user funds and cold wallets are safe. According to the CEO, who said the exchange uses a three-tier wallet structure, the breach affected only a portion of the hot and intermediate-tier wallets. This statement differs from the initial on-chain reports, which raised concerns about cold wallets.

The CEO also said Bitget’s user protection fund holds more than $464 million in assets. The claim that user funds are safe is based on the company’s statement; the temporary withdrawal restrictions remain in place.

Promise to publish an incident report within 24 hours

Bitget promised to publish an incident report within 24 hours. This is not a timeline for reopening withdrawals, but a commitment to share details of the security incident.

Our earlier [Bitget report](https://koinbulteni.com/bitget-cuzdanlari-ele-mi-gecirildi-170-milyon-dolari-asan-supheli-hareket-287887.html) on the suspected attack and the company’s initial responses covered the wallets being secured and statements about the protection fund. The latest statement clarifies the suspension of withdrawals and the review process.