Bitget Hacker Moves $19.5M in Fresh Bitcoin Transfers

Wallets linked to the September breach of cryptocurrency exchange Bitget transferred $19.48 million across 52 separate transactions between Oct. 21 and Oct. 24, according to onchain data tracked by Arkham Intelligence. Bitcoin accounted for $19.33 million of the total, with the remainder moved in Ethereum.

Arkham reported that almost all funds were dispatched to newly created addresses. The destination platforms remain unidentified, leaving it unconfirmed whether the assets were sold, mixed, or cashed out through over-the-counter desks.

Outflows Reach $78M Since Mid-October

The latest transfers form part of an accelerating wave of fund movements. Arkham's data indicates that hacker-controlled addresses have transferred $78.01 million to new wallets since Oct. 15.

Daily outflows recorded by the blockchain analytics firm include $23.31 million on Oct. 15, $8.68 million on Oct. 16, $1.15 million on Oct. 17, $10.51 million on Oct. 18, $15.13 million on Oct. 20, $11.74 million on Oct. 21, and $7.3 million on Oct. 23.

Arkham values the hacker's remaining labeled holdings at approximately $242.54 million, consisting largely of 2,960.01 BTC alongside smaller balances on Ethereum, Hypercore, Solana, and TRON. While Arkham benchmarked this against an initial $350 million theft figure, Bitget previously revised its loss estimate to approximately $387.5 million after accounting for Zcash and TRON assets.

Phased Recovery and Exchange Operations

Bitget disclosed that the September breach stemmed from a compromised third-party security product that allowed an attacker to obtain high-level internal credentials and bypass automated withdrawal controls. The exchange stated that customer account balances were unaffected and that systems were promptly isolated.

Phased withdrawal restoration concluded on Oct. 2 following the reopening of Bitcoin, Ethereum, and Tether services in late September. Bitget CEO Gracy Chen confirmed that the exchange's Protection Fund held more than $300 million as of Sep. 30 to absorb financial losses from the incident.

Key facts

• The Bitget attacker moved $19.48 million across 52 transfers between Oct. 21 and Oct. 24, with Bitcoin representing $19.33 million.
• Cumulative hacker-linked transfers to new addresses totaled $78.01 million between Oct. 15 and Oct. 23.
• Remaining labeled attacker wallets hold approximately $242.54 million, including 2,960.01 BTC.
• Bitget's revised internal calculation places total losses from the September incident at $387.5 million.