Bitget sees $463M net outflow in 24 hours after resuming withdrawals

Crypto exchange Bitget saw about $463 million in net outflows over 24 hours after withdrawals resumed, Bloomberg reported. According to DefiLlama data, that marked the largest single-day net outflow over the past four years. Bitget has been gradually restoring withdrawals following a $388 million hack last week, starting with BTC on Sept. 28 and continuing with ETH and USDT. The exchange plans to resume remaining token withdrawals, fiat services and P2P services on Oct. 2. Its user protection fund, which is being used to cover hack-related losses, has fallen from $464 million to under $200 million. Bitget CEO Gracy Chen said the company aims to replenish the fund to more than $300 million within a week using its own capital. While North Korea has been identified as a possible culprit behind the hack, the exchange has withheld judgment.