Bitget’s Bitcoin reserves saw a sharp decline of nearly 5,000 BTC on September 28, 2026, as the exchange reopened withdrawal services following a catastrophic $387.5 million exploit. According to CEO Gracy Chen, the platform processed 9,585 withdrawal orders totaling approximately 4,098 BTC within hours of resuming operations. This rapid exodus of assets reflects both retail investors moving funds to self-custody and the movement of illicitly obtained coins by the attackers.
The breach, which resulted in the loss of hundreds of millions in digital assets, has put Bitget under intense scrutiny regarding its security infrastructure and reserve management. While Chen emphasized that the exchange is fulfilling its obligations to users, DeFiLlama data indicates that the tracked reserves have taken a substantial hit, potentially impacting the platform's liquidity depth for high-volume traders in the US and international markets.
From a regulatory standpoint, this event is expected to trigger renewed calls for stricter oversight of centralized exchange (CEX) security standards. US-based analysts are particularly concerned with how the hackers have already begun laundering the $387 million haul through decentralized protocols, highlighting the ongoing challenge that cross-chain obfuscation poses to law enforcement and anti-money laundering (AML) efforts in 2026.
Investors should closely monitor Bitget’s upcoming Proof-of-Reserves (PoR) report to verify the health of the remaining assets. The market's reaction has been cautious, as the potential for hackers to dump stolen BTC onto the open market could create short-term sell pressure. For now, the focus remains on whether Bitget can stem the tide of outflows and restore trust among its institutional and retail client base following one of the year's largest security failures.