Bitget: Resumes BTC Withdrawals After Hack

Bitget resumed BTC withdrawals at 4 PM after shifting 3630 BTC valued at $300 million from cold wallets including the risk protection fund into hot wallets. The platform cleared over 6000 withdrawals amounting to 2700 BTC or $220 million in the first hour with initial on-chain confirmations already recorded.

The $464 million risk protection fund absorbed the $387.5 million loss from the exchange's first security incident in eight years and will be restored to at least $300 million with proprietary capital within seven days. Attackers exploited a third-party security product flaw to obtain intranet credentials and issue forged withdrawal commands that bypassed controls; internal collusion has been excluded and patches completed.

Bitcoin trades at $82843.89 on the 4-hour chart inside a bearish structure where the EMA50 at $83459.02 caps upside while the EMA200 at $78829.52 anchors deeper support. The MACD death cross at -128.94 sustains downside pressure despite neutral RSI at 37.36, and price probing the lower Bollinger band near $83040.99 points to short-term volatility exhaustion that could precede a measured retracement before any continuation.