A Loss Estimate Revised Upward
Bitget entered the weekend managing the consequences of a security breach that it said moved $387.5 million to addresses controlled by an attacker. The exchange raised its estimate from an earlier figure of roughly $352 million after adding transfers involving assets on Zcash and TRON. Bitget said the revised total represented a fuller accounting of the same incident, rather than another round of unauthorized withdrawals.
The affected assets spanned multiple networks, including the XRP Ledger and Ethereum-compatible chains. That breadth complicates recovery. Some issuers can freeze particular tokens at the contract level, while native assets on other networks cannot be stopped through the same mechanism. Exchanges and investigators must identify destination addresses, communicate with counterparties and follow funds when attackers swap or bridge them into different assets.
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Bitget had paused withdrawals and launched a bounty program intended to encourage the freezing or recovery of stolen assets. The company said the vulnerability had been contained and no further unauthorized transfers were possible. Those statements address the immediate threat, but they do not settle the operational question facing customers: when withdrawals can resume safely and whether all balances remain available in full.
For the exchange business, the episode is also a test of incident communication. A changing loss estimate can be understandable when investigators add networks to their tracing, yet customers need a precise explanation of what changed and what did not. The next meaningful updates will concern confirmed recoveries, service restoration and the controls introduced to prevent another breach through the same path.
