Bitget is back online for withdrawals in Bitcoin, Ether, and USDT, reopening after a major hack was detected on September 24. The company now estimates its losses at $387.5 million after more assets were traced as part of the incident. The hack affected wallets across Ethereum, XRP Ledger, TRON, and Zcash. Bitget says its protection fund will cover customer losses, and the fund has been restored to more than $300 million.
But reopening withdrawals does not close the crisis. Blockchain investigators, including ZachXBT, are tracking how stolen funds are moving across networks. The key detail now: external reporting says some of the stolen Zcash has moved into Ironwood, Zcash’s shielded pool, with TokenPost putting that flow at about 2,700 Zcash. Because shielded transfers on Zcash are built to hide transaction details, the ability for investigators or exchanges to follow that money sharply decreases once it crosses into Ironwood.
That shifts the focus from Bitget’s operational recovery to how much of the stolen value may be disappearing into privacy rails, where asset freezing and attribution get much harder. The next checkpoint is whether any more of the stolen funds can still be traced before falling out of view.