# Bitget hack now $387.5 million, withdrawals still paused: what Pakistani users should do

Source: Searchable (https://searchable.pk/news/crypto/bitget-hack-withdrawals-paused-pakistan)
Type: News article
Author: Searchable
Published: 25 Sept 2026
Updated: 25 Sept 2026
Retrieved: 30 Sept 2026

> Bitget has raised its loss estimate after counting Zcash and TRON transfers and will give a withdrawal timeline by 9am PKT Saturday. What is known and what to do with coins you hold there.

**Update, Friday 25 September 2026, 10:45pm PKT:** Bitget has raised its estimate of the assets taken to **$387.5 million (about Rs 107.4 billion)**, up from $351.6 million. The new figure adds transfers on the Zcash and TRON networks that the first count missed, Cointelegraph and Crypto Briefing reported. The affected coins now include XRP, ETH, USDT, USDC, ZEC, XAUt, BNB, AVAX and TRX.

- **Withdrawals are still paused.** Bitget says it will announce a timeline for restoring them by **4:00 UTC on Saturday 26 September (9:00am PKT)**. Deposits and trading remain open.
- **No further transfers since containment,** the exchange says. It is working with Mandiant and SlowMist on the investigation.
- **Recovery bounty:** Bitget is offering 5% of any funds frozen and another 5% of funds directly recovered, coordinated through Bybit's LazarusBounty platform. Circle and Tether have blacklisted one attacker wallet holding about $318,000 in USDT and USDC, CoinDesk reported, a small slice of the total: other attacker addresses still hold more than 63,000 ETH, which no issuer can freeze.
- **Protection fund:** Bitget says the original $351.6 million was fully covered by its User Protection Fund of more than $464 million. It has not yet said how the extra $36 million is covered.

**First report, 24 September:**

Bitget, a crypto exchange that people in Pakistan search for about 90,500 times a month (Semrush), confirmed on Thursday, 24 September 2026 that attackers moved about **$352 million (roughly Rs 97.6 billion at today's [dollar rate](/data/usd-pkr))** out of its hot wallets. Withdrawals are paused while the exchange runs a security review. Deposits and trading are still open, and Bitget says customer balances are safe.

If you hold USDT, BTC or anything else on Bitget, here is what is known and what to do now.

## What happened

- **Amount:** $351.6 million in ETH, BNB, AVAX and USDT left Bitget-controlled wallets through unauthorised transfers, CoinDesk reported. Early estimates on the day were lower, around $170 million to $183 million, before the full figure was confirmed.
- **Which wallets:** Bitget says the breach was limited to its "hot" and "warm" wallets, the ones kept online for daily withdrawals. Its cold wallets, where most customer coins sit offline, were not touched, according to the company.
- **Who spotted it:** independent on-chain researchers, including Emmett Gallic of Arkham Intelligence, flagged the transfers before Bitget's CEO confirmed the incident at 21:59 UTC on Thursday (2:59am PKT on Friday).
- **Who did it:** not confirmed. Bitget's CEO said the company suspects North Korean hackers, citing IP clues, Cointelegraph reported. That is the company's suspicion, not a finding.

## Is your money safe?

Bitget says yes, for now. It points to a **user protection fund of more than $464 million (about Rs 128.6 billion)**, which is larger than the amount taken. It has promised a full incident report within 24 hours of the announcement.

Two things to keep in mind:

1. The protection fund being bigger than the hack is a good sign, but it is Bitget's own figure, and Bitget has not yet published how any shortfall would be handled.
2. Until withdrawals reopen, you cannot move coins out, and **P2P sales for rupees depend on the exchange's own escrow**. If you were about to sell USDT for PKR through Bitget P2P, expect delays.

## What Pakistani users should do now

- **Do not panic-sell inside the exchange.** Trading is open, but selling into a nervous market locks in a loss. Bitget's token BGB fell sharply on the news before recovering to about 2.9% down.
- **Watch only Bitget's official channels** (its X account and in-app announcements) for the reopening of withdrawals. Scammers use every exchange hack to send fake "refund" and "verify your wallet" links. Never share your seed phrase or 2FA codes.
- **Screenshot your balances** today, including open P2P orders, in case you need to raise a claim later.
- **Rethink how much you keep on any exchange.** Coins you are not trading are safer in a wallet you control.

## Where this fits in Pakistan's crypto rules

Pakistan's Virtual Assets Act 2026 created the Pakistan Virtual Assets Regulatory Authority (PVARA), which licenses exchanges before they may serve Pakistani customers legally. Binance and HTX received No Objection Certificates in December 2025. Bitget has been preparing to enter the regulated market but, according to TechJuice, a NOC only lets a company set up locally and apply for a full licence, not operate fully. PVARA estimates about 40 million Pakistanis use crypto.

That matters here: a Pakistani user of an unlicensed platform has no local regulator to complain to if a claim goes wrong.

## Keep track of the numbers

Our [bitcoin price page](/data/btc-usd) and [ether price page](/data/eth-usd) show both coins in dollars and rupees, updated through the day. To convert any dollar balance to rupees at the open-market rate, use the [currency converter](/tools/finance/currency-converter).

We will update this story when Bitget announces its withdrawal timeline on Saturday morning.

## Frequently asked questions

**Can I withdraw from Bitget right now?**

No. Withdrawals have been paused since 24 September 2026. Bitget says it will announce a timeline for restoring them by 4:00 UTC (9:00am PKT) on 26 September. Deposits and trading remain open.

**How much was taken in the Bitget hack?**

Bitget's revised estimate is $387.5 million, up from $351.6 million, after it counted transfers on the Zcash and TRON networks. It says its User Protection Fund of more than $464 million covered the original figure.

## Sources

- Bitget Clarifies $388M in Assets Affected by Security Breach (Cointelegraph): https://cointelegraph.com/news/bitget-clarifies-assets-affected-security-breach
- Bitget raises breach estimate to $387.5M and launches recovery bounty (Crypto Briefing): https://cryptobriefing.com/bitget-raises-breach-estimate-to-387-5m-and-launches-recovery-bounty/
- Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist (CoinDesk): https://www.coindesk.com/markets/2026/09/25/circle-and-tether-step-in-to-freeze-hacker-wallet-after-massive-bitget-crypto-heist
- Crypto exchange Bitget says $352 million affected in a hack, claims user funds are 'safe' (CoinDesk): https://www.coindesk.com/markets/2026/09/24/crypto-exchange-bitget-loses-usd352-million-in-hack-claims-user-funds-are-safe
- Bitget confirms $352M security breach, suspends withdrawals (Cointelegraph): https://www.tradingview.com/news/cointelegraph:77cd37847094b:0-bitget-confirms-352m-security-breach-suspends-withdrawals/
- Nearly $352M moved from crypto exchange Bitget wallets in suspected hack (Bitcoin Magazine): https://bitcoinmagazine.com/news/bitget-suffers-352-million-hack
- Global crypto giant Bitget set to enter Pakistan's regulated market (TechJuice): https://www.techjuice.pk/bitget-enters-pakistan-crypto-market-pvara-noc/

How to cite: "Bitget hack now $387.5 million, withdrawals still paused: what Pakistani users should do", Searchable, 25 Sept 2026, https://searchable.pk/news/crypto/bitget-hack-withdrawals-paused-pakistan