Bitget USDT withdrawals have officially resumed as the cryptocurrency exchange enters the third stage of its recovery roadmap following a $387.5 million security incident. The reactivation of Tether transfers comes directly after platform data recorded a massive $463 million single-day net outflow from customer accounts.

Market participants watched closely after unauthorized transactions were traced from connected hot and warm wallets. However, reopening Bitget USDT withdrawals across key blockchain networks—specifically Ethereum, BNB Smart Chain, Solana, and Tron—serves as the exchange’s strongest operational indicator that liquidity remains intact and systems are stabilized.

Phased Schedule and Proof of Reserves

The resumption of Bitget USDT withdrawals follows the earlier unfreezing of Bitcoin (BTC) on September 28 and Ether (ETH) on September 29. To address market volatility and prevent panic, Bitget released its 47th Proof of Reserves (PoR) report, based on an on-chain snapshot taken immediately following the event.

The audit snapshot demonstrates an aggregate reserve ratio of 131% across 19 digital assets, indicating asset backing exceeds customer liabilities. Key holdings from the Merkle Tree verification report include:

• Bitcoin (BTC): 142% reserve coverage

• Tether (USDT): 107% reserve coverage

• Ethereum (ETH): 110% reserve coverage

• Solana (SOL): 157% reserve coverage

Bitget CEO Gracy Chen addressed depositors directly, stating that the exchange maintains a strict segregation policy between user assets and corporate operational funds.

“We have never touched customer funds, which is why, even after this incident, our reserve ratio remains above 131%,” Chen posted on X. “That’s not a coincidence. It’s many years of discipline.”

User Protection Fund Impact

While the Proof of Reserves report provided baseline reassurance, the financial impact of the exploit reduced the platform’s emergency buffer. When the breach was identified on September 24, Bitget’s User Protection Fund stood at roughly $464 million.

To cover affected balances, a significant portion of this fund was deployed, bringing its balance below $200 million. Platform leadership confirmed plans to steadily replenish the emergency fund back to its previous capital baseline.

Upcoming Milestones

This release brings general spot operations back online. The final phase of the recovery schedule re-enabling fiat withdrawals, remaining altcoins, and peer-to-peer (P2P) services is scheduled for October 2.

Blockchain analytics teams and cross-chain bridge operators continue tracking hacker wallets to freeze diverted funds. Follow Waves Times for real-time market updates, and monitor match statistics on the 🔴 LIVE SCORES portal.