Bitget says it rebuilt a $309 million fund after $388 million crypto hack
Bitget said its protection fund reached $309 million after hackers stole about $388 million in cryptocurrency on September 24. Withdrawals resumed in stages through October 2, while only $821,000 of the stolen funds had been frozen.
By DoomRadar · Published on DoomRadar . Updated .
How the effects could reach youConditional effects
Based on one source with available article excerpts. Source-linked claims are not independent confirmation.
Event date: The hack occurred on September 24, 2026; Bitget's withdrawals resumed in stages from September 28 through October 2. [1]
What happened
Hackers stole about $388 million in Bitcoin, Ethereum, USDT and other cryptocurrencies from Bitget on September 24, according to the account. The breach was attributed to third-party software and stolen credentials. [1]
References for this detail (1)
- Bitget Rebuilt a $309 Million Protection Fund After a $388 Million Hack. Is Your Crypto Safe on an Exchange?aol.com · Article published: Oct 3, 2026, 10:27 PM UTC
Bitget temporarily froze withdrawals after discovering the breach. It reopened Bitcoin withdrawals on September 28, Ethereum on September 29, USDT on September 30, and the remaining cryptocurrencies on October 2. [1]
References for this detail (1)
- Bitget Rebuilt a $309 Million Protection Fund After a $388 Million Hack. Is Your Crypto Safe on an Exchange?aol.com · Article published: Oct 3, 2026, 10:27 PM UTC
Bitget said its Protection Fund had been rebuilt to $309 million and was used to compensate customers without passing the losses to them. The article also said the exchange's proof of reserves showed 131% coverage. [1]
References for this detail (1)
- Bitget Rebuilt a $309 Million Protection Fund After a $388 Million Hack. Is Your Crypto Safe on an Exchange?aol.com · Article published: Oct 3, 2026, 10:27 PM UTC
Only $821,000 of the stolen funds had been frozen, while the hackers used THORChain and Zcash's privacy pool to obscure hundreds of millions across blockchains, according to the account. [1]
References for this detail (1)
- Bitget Rebuilt a $309 Million Protection Fund After a $388 Million Hack. Is Your Crypto Safe on an Exchange?aol.com · Article published: Oct 3, 2026, 10:27 PM UTC
Context from the sources
The incident exposed a distinction between customer compensation and asset recovery: Bitget said it restored coverage, but the reported amount of frozen stolen funds remained far below the theft's stated value. [1]
Explore the sources and reporting timeline
1 source links · 1 domains
These counts describe the references, not independent confirmations. Different outlets can repeat the same original report.
Source timeline
Oldest to newest among the available source dates, not a chronology of the incident. Article publication dates come from the source; other recorded dates may reflect when a link was found.
Questions answered by the reporting
Were customer losses passed on to users?
Bitget said its Protection Fund covered customer losses without passing the cost to customers. [1]
What this could mean for you
Users of a compromised exchange may temporarily lose access to withdrawals.
An exchange can freeze withdrawals while it investigates a breach and protects remaining assets, as Bitget did.
Reported basis: [1] · The possible effect is interpretation.
Depends on: A similar exchange compromise triggers protective controls.
Stolen cryptocurrency may be difficult to recover after it moves across multiple blockchains or privacy services.
The reported laundering route obscured funds and left only a small portion frozen.
Reported basis: [1] · The possible effect is interpretation.
Depends on: Attackers rapidly transfer assets through mixers, bridges or privacy pools.
Possible consequences, not a forecast. Their relevance depends on your location and the conditions above.
For your country
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What changes the outlook
Risk increases if…
Further stolen funds move beyond effective freezing or tracing.
Bitget's protection resources become insufficient to cover affected balances.
Pressure eases if…
More stolen assets are frozen or recovered.
Exchange security controls prevent similar third-party credential compromises.
Still unclear
The source does not identify the third-party software or stolen credentials involved.
The extent of any broader investigation or recovery beyond the reported frozen funds is unclear.
Market implications
Market impact
Sources (1)
References for the reported details. Separate links do not necessarily mean independent confirmation.
Available excerpt
Bitget's Protection Fund absorbed a $388 million hack and rebuilt to $309 million by September 30, covering all customer losses without passing costs to users.…A short excerpt from our source record; open the original for the full article.
First tracked by DoomRadar: . AI-assisted analysis · . Based on linked headlines and available excerpts. Methodology · Report an error.