Bitget restores ETH withdrawals after ~$387.5M hack with ~651 ETH first-hour net inflow
By Crypto Wire
September 29, 2026
Desk of the Day — Rug Room
Bitget restored ETH withdrawals at 08:00 UTC September 29—the second stage of its phased reopen after the September 24 ~$387.5 million hot/warm wallet breach. The window covers Ethereum, BSC, Arbitrum, Base, and Optimism, matching the exchange’s published schedule. This is a new Rug Room chapter after Chen’s test-transfer interview beat (9980) and Monday’s BTC reopen (9902), not a silent edit of those URLs.
The first-hour flow print is the fresh primary. At 10:40 UTC, Bitget’s official X account said that as of 09:00 UTC, ETH inflows were about 9,674 ETH and outflows about 9,023 ETH—a net inflow of roughly 651 ETH in the first hour after the restart, per CryptoTimes and matching CoinEdition’s same-day wrap. Eight minutes later, CEO Gracy Chen quoted the update and wrote that after the 08:00 UTC ETH reopen, “we actually saw a net inflow,” thanking users for trust. Attribute those tallies to Bitget’s disclosed figures—not to an independent wallet census by this desk.
Chen also pointed to an ETH lock-up campaign on PoolX, Bitget’s in-house product, citing about 16.5% annualized yield at the time of posting. PoolX rates move with locked ETH and are not guaranteed—treat the pitch as company marketing beside the withdrawal reopen, not as proof that deposits will stay elevated. A separate on-chain read of a suspected Bitget hot wallet (0xED9…18771) described an “out first, in later” pattern—balance falling from ~30,000 ETH toward ~25,000 ETH within ~30 minutes, then recovering slightly above the start—per PANews/Ai Yi coverage. That address is only suspected; it does not equal Bitget’s total ETH reserves.
How the reopen stacks with prior chapters. BTC withdrawals returned September 28 on Bitcoin (and BSC later the same day), with Chen’s AMA citing ~4,098 BTC processed. The ETH stage was the Watchlist clock this desk kept citing while NEAR Intents and THORChain trail chapters printed. USDT withdrawals remain scheduled for 08:00 UTC September 30 across Ethereum, BSC, Solana, and Tron; other tokens, fiat, and P2P stay aimed at October 2. Bitget’s support notice still says users need take no action—availability shows on the platform.
What a net inflow does—and does not—settle. Roughly 651 ETH of first-hour net deposits shows users were not only exiting after the pause; deposits ran alongside withdrawals. It does not prove the Protection Fund is refilled, that Mandiant/SlowMist’s incident report is done, or that the remaining USDT and Oct. 2 phases will open without snags. Chen has said Bitget expects a formal security report this week—keep that on the Watchlist beside the USDT clock.
Fund-trail context stays on the sibling tracker. NEAR Intents’ SHIELD block of more than $50 million in Bitget-linked attempts (10236) and Protos’s ~$678 million THORChain volume beat remain live on the refuse-service desk even as retail ETH rails reopen. Reopen status and attacker hops are related but separate chapters—do not conflate a smooth first hour with trail cold.
Operational checklist for readers waiting on balances. Confirm the asset is ETH on one of the five named networks—not every L2 Bitget lists for other coins—and watch the in-app withdrawal history for pending versus completed status during the first-day queue. Bitget says no pre-action is required; if a network stays grey while others clear, treat that as a partial reopen until the exchange posts a correction. Separately, keep USDT’s September 30 clock distinct from today’s ETH print so a stablecoin delay is not misread as an ETH rollback.
What to watch on-chain next: Watch whether ETH inflows stay ahead of outflows through the first full day, whether Bitget posts queue failures or network-specific freezes on Arbitrum/Base/Optimism, and whether the 08:00 UTC September 30 USDT window opens on schedule—while the Protection Fund refill and incident report remain the next named recovery beats.
Bottom line: Bitget’s ETH withdrawals are open across five networks as of 08:00 UTC September 29, and the exchange’s own first-hour print shows ~651 ETH net inflow—so the Watchlist clock now turns to USDT on September 30 while recovery-fund and incident-report questions stay live.
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