Bitget Restarts Bitcoin Withdrawals Following $387.5m Wallet Breach

Bitget temporarily suspended withdrawals after detecting unauthorized transfers totaling about $387.5M from parts of its hot/warm wallet infrastructure; the company traced the breach to a flaw in a third‑party security product that granted attackers high-level internal credentials used to bypass withdrawal controls. The exchange contained the incident, resumed phased withdrawals, engaged Mandiant and SlowMist for investigation and fund tracing, launched a recovery bounty, and said the loss is covered by its Protection Fund while coordination with law enforcement and industry continues.