Key Takeaways
CryptoSlate reports Bitget raised its hack loss estimate to $387.5M and launched a 5% recovery bounty.
According to CryptoSlate, cryptocurrency exchange Bitget has raised its estimated loss from a Sept. 24 breach to $387.5 million, up from $351.6 million after further on-chain tracing identified additional Zcash and TRON assets. Bitget Chief Executive Officer Gracy Chen stated that the increase reflected transfers during the original incident rather than new unauthorized transactions.
Bitget is investigating the breach alongside Mandiant and SlowMist. The exchange suspended customer withdrawals while keeping deposits and trading operational, stating that its security team patched the underlying vulnerability. Industry partners including Binance and Bybit are supporting the recovery efforts. Bybit CEO Ben Zhou announced that Bybit would assist Bitget and update its LazarusBounty platform to track the stolen funds.
Bitget launched a Recovery Bounty Program offering a 5% reward for voluntary actions that successfully freeze or recover stolen assets. The exchange has also published a real-time tracing dashboard, reporting portal, and API containing attacker addresses. Withdrawals remain suspended, with Bitget planning to announce its withdrawal plan by Sept. 26 at 04:00 UTC as technical teams validate remediated systems.
Source & Fact-Check Note
https://cryptoslate.com/bitgets-hack-just-got-36-million-bigger-and-now-theres-a-bounty-on-the-stolen-crypto/
