Bitget TradFi Chief Growth Officer Xie Jiayin said the exchange will announce its withdrawal schedule by noon tomorrow as it continues responding to a platform security incident. According to his update, the internal security team has identified the attack path and methods used in the hack and has obtained details on how the attacker bypassed security protections, with tracing efforts said to be close to identifying the source.
Xie also said third-party investigations by Mandiant and SlowMist are still underway, and a detailed report will be released by the security team later. On-chain tracking has now confirmed that about $387.5 million was transferred to hacker-controlled addresses, revised up from an earlier estimate of $351.6 million. The updated figure includes ZEC and TRX, and Bitget said no other unauthorized transfers have been found so far.
Bitget said the stolen funds at the platform level will be fully covered by its user protection fund, and that user assets will not suffer losses. The company has also launched a recovery bounty program, offering a 5% reward for voluntarily freezing attacker funds and another 5% reward for voluntarily recovering funds. The same reward terms also apply to assistance already provided. Bitget has published attacker addresses, a live tracking dashboard and a submission portal, with related information also accepted through Bybit’s Lazarus bounty platform.
Bitget TradFi Chief Growth Officer Xie Jiayin said the exchange will announce its withdrawal timeline by noon tomorrow in the latest update on the platform’s security incident.
Xie said the security team has identified the attack path and the methods used in the hack. The team has also obtained details on how the attacker bypassed security protections and is now very close to tracing the source of the attack.
Third-party investigation is still ongoing
He added that incident reviews by third-party security firms Mandiant and SlowMist are still in progress, and a detailed report is pending from the security team.
On-chain tracking revises transferred amount to about $387.5 million
On-chain tracking has confirmed that about $387.5 million was moved to hacker addresses, up from an earlier estimate of $351.6 million. The revised figure includes ZEC and TRX. Bitget said it has not found any other unauthorized transfers at this stage.
User protection fund to cover stolen platform-level assets
Xie said the funds stolen at the platform level will be fully covered by Bitget’s user protection fund, and that user assets will not suffer any losses.
Bitget launches 5% recovery bounty
Bitget has formally launched a fund recovery bounty program. Parties that voluntarily freeze attacker funds can receive a 5% bounty, and those that voluntarily recover funds can also receive a 5% bounty. The reward also applies to help that has already been provided.
The platform has published attacker addresses, a real-time tracking dashboard and a submission portal. Related information can also be submitted through Bybit’s Lazarus bounty platform.
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