Bitget to Restore Withdrawals in Stages After Security Review
Bitget will restore cryptocurrency withdrawals in stages after identifying and fixing the vulnerability linked to its 24 September security incident. Bitcoin network withdrawals are scheduled to resume at 08:00 UTC on 28 September, followed by ETH withdrawals on Ethereum, BSC, Arbitrum, Base and Optimism on 29 September. USDT withdrawals on Ethereum, BSC, Solana and Tron are expected to resume on 30 September. Other token, fiat and P2P withdrawals are planned to restart on 2 October.
Bitget said trading and deposits remain operational. It added that user balances were unaffected and that its protection fund will cover the financial impact of the platform-wide incident. Mandiant and SlowMist are continuing to assist with the investigation. Bitget said the temporary withdrawal suspension was a security precaution rather than an indication that customer assets were unavailable.
Neutral
The market impact is best classified as neutral. The phased restoration of Bitget withdrawals is a positive operational signal and may reduce fears of a broader liquidity or solvency problem. The exchange also says balances were unaffected and that its protection fund will cover losses, which could limit forced selling and withdrawal-driven panic.
However, the underlying security incident remains a negative risk factor. Temporary withdrawal suspensions at major exchanges have historically triggered short-term outflows, volatility and discounts on exchange-linked assets, even when trading services remain available. Traders may continue to monitor on-chain withdrawals, reserve data, Bitget’s BGB token, and whether each restoration milestone occurs on schedule. Any delay, evidence of additional losses or renewed withdrawal restrictions could produce a bearish reaction across exchange tokens and major cryptocurrencies.
In the short term, restored BTC, ETH and USDT withdrawals may improve confidence, but cautious users could still move assets to self-custody, limiting liquidity on the platform. In the longer term, a clean investigation and successful completion of the timetable could support Bitget’s credibility. The incident may also increase scrutiny of exchange security controls, custody practices and proof-of-reserves reporting across the crypto market.