WuBlockchain
Bitget CEO Gracy Chen said a security incident affected the exchange’s withdrawal infrastructure across multiple chains and assets, requiring security checks before withdrawals could resume. The exchange restored service in phases as those checks were completed.
Why it matters
Chen said the suspension was a security measure and was not related to the sufficiency of user assets. She said the related losses were fully covered by the Bitget Protection Fund.
Market impact
BTC withdrawals resumed first because that pipeline was ready and had not been affected by the attack. ETH and USDT withdrawals followed as security checks progressed and in response to user demand.
Frequently asked questions
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Why did Bitget restore withdrawals in phases?
The incident affected withdrawal infrastructure across multiple chains and assets. Bitget said each chain needed security checks before withdrawals could resume.
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Why were BTC withdrawals restored first?
Bitget's BTC withdrawal pipeline was ready first and had not been affected by the attack, so it did not need the same level of comprehensive verification.
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When did ETH and USDT withdrawals resume?
They resumed later, based on the progress of security checks and user demand.
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Did Bitget say the pause was caused by insufficient user assets?
No. CEO Gracy Chen said the suspension was a security measure and was not related to the sufficiency of user assets.
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How did Bitget say it covered the related losses?
Chen said the related losses were fully covered by the Bitget Protection Fund.
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