Cryptocurrency exchange Bitget has clarified that a recent security breach affected approximately $388 million in assets, an increase from its initial estimate. The exchange has paused withdrawals whi
Cryptocurrency exchange Bitget has provided an updated assessment of a recent security breach, revising the total value of affected assets to $388 million. This figure represents an increase from the initially reported $352 million. The exchange confirmed that this revised total incorporates additional assets identified on the Zcash and TRON networks, which were not included in the preliminary estimation. Bitget emphasized that this updated amount reflects a more comprehensive accounting of transfers during the incident and not further unauthorized movements of funds.
The key figures involved in this incident center around the total estimated value of stolen assets, which now stands at $387.5 million as traced to attacker-controlled addresses. This amount surpasses previous reports by approximately $35 million. The breach impacted multiple blockchain networks, including Ethereum Virtual Machine (EVM) compatible chains, the XRP Ledger, Zcash, and TRON. Among the notable cryptocurrencies confirmed as stolen are XRP, Ether (ETH), Tether (USDT), Zcash (ZEC), USDC, and TRX, among others.
This security incident occurred against a backdrop of ongoing concerns regarding cybersecurity within the digital asset industry. Exchanges and decentralized finance (DeFi) protocols are frequent targets for malicious actors due to the large sums of value they hold. The increasing sophistication of hacking groups, some of which have been linked to state-sponsored activities, necessitates constant vigilance and robust security measures from all participants in the cryptocurrency ecosystem.
In response to the breach, Bitget has taken immediate action by temporarily pausing all withdrawal services to prevent further losses and to facilitate an investigation. The exchange has also initiated a bounty program, offering incentives to individuals who can assist in freezing or recovering the compromised assets. This proactive step, alongside transparent communication about the incident's scope, aims to reassure users and demonstrate a commitment to resolving the situation effectively.
The scale of this breach places it among the significant security incidents to affect the cryptocurrency space. While Bitget's reported figure of $388 million is substantial, it is important to note that other major breaches have resulted in even larger losses. For instance, the Bybit exchange experienced a hack in February 2025 resulting in the theft of approximately $1.5 billion worth of Ether. Such events underscore the inherent risks associated with digital asset trading and custody.
Looking ahead, traders and market participants will be closely monitoring Bitget's progress in resuming withdrawal services and its effectiveness in recovering the stolen funds. The exchange's ability to navigate this crisis, maintain user trust, and strengthen its security protocols will be crucial. Furthermore, any developments regarding the perpetrators of the attack, including potential attribution or recovery efforts, will be of significant interest to the broader crypto community.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.