Bitget Reopens Withdrawals After $387.5M Hack: Timeline and What We Know

What happened

Bitget revised its hack estimate to $387.5 million and set a withdrawal reopening schedule starting September 28. The attacker moved $83 million in XRP, a cryptocurrency tied to Ripple.

Confirmed

Global impact / market context

A hack this large can strain the exchange's cash available to repay users, which means some customers might wait longer for their money. It also raises doubts about how safely crypto platforms hold customer assets.

Analyst inference

For XRP holders, the attacker moving $83 million in tokens could create added selling pressure, which means the price may face downward pressure. It also highlights how hacked funds can flow into liquid cryptocurrencies.

Analyst inference

What to watch

1. Bitget's withdrawal reopening schedule begins September 28, so users should watch whether withdrawals actually process on time without new delays or restrictions. Confirmed
2. Bitget could announce further revisions to its hack estimate or recovery plan, which means the total loss figure and customer repayment timeline may still change. Proposed
3. Investors may watch XRP's price and trading volume to judge whether the attacker's $83 million in moved tokens actually reaches exchanges and creates sell pressure. Analyst inference

Affected assets

• XRP — XRP

Evidence

• en.spaziocrypto.com