Bitget to Resume BTC, ETH and XRP Withdrawals

Bitget said it will begin restoring withdrawal access in stages after a reported $387.5 million security breach forced the exchange to suspend the service. The move marks a critical step in normalizing operations, but the incident is likely to keep security and counterparty risk in focus for users and traders.

According to the exchange, bitcoin withdrawals are scheduled to resume first on Sept. 28, followed by ether and USDT. XRP and other assets are expected to return by Oct. 2. Bitget also launched a 10% bounty program tied to the recovery effort, signaling an attempt to incentivize information that could help trace and recover compromised funds.

The phased restart suggests Bitget is prioritizing liquidity management and operational controls as it reopens the platform. For traders, the immediate issue is not only access to funds but also whether the breach will affect short-term confidence in exchange custody, especially among users with large balances or active withdrawal needs.

The announcement arrives during a broader risk-on backdrop in digital assets, with the Fear and Greed Index at 74, indicating elevated appetite for crypto exposure. Even so, exchange-specific security events can override broader sentiment and trigger localized volatility, particularly in assets tied to withdrawal queues or custody concerns.

Market participants will likely watch whether Bitget provides more detail on the breach, the scope of any losses and the mechanics of the bounty program. Clear communication and a smooth restart will be important to limit reputational damage and reduce the chance of follow-on outflows.