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Bitget says attackers used fraudulent approvals to steal $387.5M as withdrawals remain suspended

first published 2026-09-25T11:22:14Z
Hack Security Trading
Bitget CEO Gracy Chen said about $350 million was stolen from the exchange on September 24. She said Bitget can absorb the loss, expects a possible surge in withdrawals when services reopen, and noted that some public chains have frozen stolen funds. Recovery efforts are ongoing, but a full recovery is not expected.
AI Analysis
The summary reports a large theft, ongoing recovery efforts, and expected withdrawal pressure when services reopen. These facts point to negative near-term exchange sentiment and potential market concern, while the ability to absorb the loss limits the severity.
Expected Investor Sentiment: Bearish
Potential Market Impact: High
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