Bitget one of the Nigerian most used cex hacked

[Ashawowo(OS)]

Since the hack happens across almost five chains in the exchange unlike that of Bybit that only happen in Etherum chain, they will have to sort things out first before they officially allow withdrawals, but from all indications, uses funds are safe, but that doesn’t warrant us to keep saving money with exchange because if you have money there from the time it got hacked, you will be stranded.

It’s indeed unfortunate but, it goes both sides you know. The exchange funds might be the only thing to have being taken but it sure did result in the restriction of withdrawals from the exchange and that could be a good thing. It would be outrightly wrong to not know who is making the withdrawals to just bring the whole thing back up. Ascertaining the extent of the damage is part of the job and that’s what they really should be about.

The exchange should pay for that with their User protection funds, they should bear the responsibility for their loss and not push it on users. I perceive the suspended withdrawals as a site maintenance on their path, they needed to do that to be able to fix the vulnerability that allowed the Lazarus group take so much funds from them. I also think they kept much funds in their hot wallets, maybe they would learn their lessons and behave like Binance which keeps most of its funds in cold storage.

[PVequalNRT]

It’s indeed unfortunate but, it goes both sides you know. The exchange funds might be the only thing to have being taken but it sure did result in the restriction of withdrawals from the exchange and that could be a good thing. It would be outrightly wrong to not know who is making the withdrawals to just bring the whole thing back up. Ascertaining the extent of the damage is part of the job and that’s what they really should be about.

The money taken from the exchange is users fund, the company does not have funds sitting on the exchange, they don't have reasons to keep the money their because they don't trade. The good news is that they have customers protection funds they set aside around 2022-2023, that is the money they are going to use to refunds customer which they planned to open the exchanges withdraw by 8 am utc.

[Hyphen(-)]

The exchange should pay for that with their User protection funds, they should bear the responsibility for their loss and not push it on users. I perceive the suspended withdrawals as a site maintenance on their path, they needed to do that to be able to fix the vulnerability that allowed the Lazarus group take so much funds from them. I also think they kept much funds in their hot wallets, maybe they would learn their lessons and behave like Binance which keeps most of its funds in cold storage.

Yes, that should be the reason for the suspension, they will definitely be responsible for any funds that been missing, and that is why they usually have some money reserved for such cases, it’s their responsibility since they couldn’t protect the users, so they will be force to use money from their reserves to balance all the losses before they fully allow withdrawal activities in all chains; but for Bitcoin, withdrawal is back; EVM and other chains will also resume on Wednesday.

[Agbe]

They have resumed the withdrawal from bitcoin but in Binance Smart Chain. You can also confirmed this. Here is the announcement I got from them this morning. And I also checked the exchange to confirm and it is true they have removed the suspension from bitcoin but other coins are still suspended. In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

[PremiumcryptoHub]

They have resumed the withdrawal from bitcoin but in Binance Smart Chain and not in bitcoin network. You can also confirmed this. Here is the announcement I got from them this morning. And I also checked the exchange to confirm and it is true they have removed the suspension from bitcoin but other coins are still suspended. In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

Bitget already offers bitcoin withdrawal from exchange but you are a bit wrong because they not only offer bitcoin withdrawal through binance smart chain network but also you can withdraw btc through bitcoin network, I just checked the exchange and withdrawal through lighting network is still closed, So those who are able to move their bitcoins using these two networks will be able to do P2P on other exchanges and even those users will have the opportunity to transfer their assets to a hardware wallet.

[Agbe]

Snipped

My bad. I go check am back and I see say bitcoin network sef dey work. Before I only see BSN was removed and others were still written suspended. And from di announcement information. And I tok. Pipl fit swap their suspended coins to bitcoin and make di withdrawal and from there dem fit sell am. But I dey advice people to send coins to day exchange for now and if e dey possible make dem use another exchange for their p2p.

[Nightwatchmare]

It's not as if keeping money is the bank is safe I'm just saying that if your money gets missing in your bank account you can lay a complaint and it get solved despite the stress you might go through.

You cannot keep all your money in self custody wallets, that's just the truth because you will need money to use as everyday payment which of course crypto assets are not used for everyday transactions in Nigeria. However, even if you keep all your money in crypto asset it will still require you to convert to fiat currency whenever you needed money in your currency. This is just the area am talking about preferring bank more than centralized exchanges.

If your money gets missing in your bank account in Nigeria yes you can lay a complaint to your bank but there is no guarantee your bank will recover your money. I have seen people lose money in their bank account and when they  lay a complaint to their bank they could not get a good explanation how their money got missing. I will never prefer bank more than centralized exchanges because to me bank and centralized exchange is the same thing. Yes i cannot keep all my money in crypto because i need to save paper money in my bank account that i will use to solve my problem in my country.

[Qhunman]

If your money gets missing in your bank account in Nigeria yes you can lay a complaint to your bank but there is no guarantee your bank will recover your money. I have seen people lose money in their bank account and when they  lay a complaint to their bank they could not get a good explanation how their money got missing. I will never prefer bank more than centralized exchanges because to me bank and centralized exchange is the same thing. Yes i cannot keep all my money in crypto because i need to save paper money in my bank account that i will use to solve my problem in my country.

The banks are behind when it comes to technological tools to protect and traced their customers funds. I understand that hack on some customers account aren't their fault,the fact that they can't traced and track down the owner of the account who received the stolen money is what I blame the bank for. Let's assume that a customer accidentally gave out his/her Credit card details to a fraudsters and their money was transferred out from their account to an unknown account,it is still the duty of the Bank to assist the customer to trace and recover back the customer money. They are only serious if it a prominent person money goes missing. So they re worse at protecting money than even a centralised exchange to me.

[aNot!FicaT!on]

After the Bitget hacking incident, everything is finally back to normal at Bitget. I just saw in a news that Bitget is now resuming its withdrawal system. Bitget initially stated that the loss was $351.6 million, but after subsequent calculations, this number increased to about $388 million.

They claim:
"The security of their 'private keys' or 'cold wallets' was never compromised and the balance of customers' funds is completely intact. By Monday morning, Bitget had completed the process of withdrawing 9,585 Bitcoins worth a total of 4,098 BTC (BTC) and the process of withdrawing other cryptocurrencies will be gradually resumed during the rest of the week."

They are relaunching their Bitcoin withdrawal process, in the first phase 9,585 withdrawal requests have been completed, amounting to about 4,098 BTC, and everything else will be launched in stages.

However, I think the most important thing for Bitget after this incident will be to maintain the trust of users, because customer funds are safe, what happened to them now, after this incident, many will now lose trust in Bitget, because now their funds may be safe, but if there is a bigger hacking incident in the future, what is the guarantee that customer funds will still be safe? Although they are now working to strengthen their security, however, I hope that such an incident will not happen again, and they will now be more careful about the safety of themselves and their customers.
https://news.bitcoin.com/exchanges/bitget-restarts-bitcoin-withdrawals-388m-hack-investigation-widens/

[AYOBA]

We are now at the stage where no where is safe for someone to store their crypto. Exchanges and even wallets are getting compromised. These hackers are becoming smarter day by day. The funy there is that bitget where celebrating their 8th year anniversary today.  I just hope they are able to get those culprit and recover the stolen funds. Over $100M stolen in a day, I can't imagine the panic in people's minds whose  Funds are  in the exchange.

In this stage i actually don’t know which exchanges is safe to be use to keep our crypto. Because this seem like both custody wallet, decentralized exchanges are not safe anymore as the hacker are getting smarter every blessing day. At this point we also need to wake up and make a way out of this situation so that we know how to prevent our crypto from stolen.

The funny part is after the news as been spreading that Biget has been hacker and they’ve stolen a huge amount of crypto in a differences chains/coins they immediately disable the withdrawals from the platform, but my questions is that, they did that to prevent the users from getting access to their assets or just because of hackers?

[Sticky Bomb]

They have resumed the withdrawal from bitcoin but in Binance Smart Chain and not in bitcoin network. You can also confirmed this. Here is the announcement I got from them this morning. And I also checked the exchange to confirm and it is true they have removed the suspension from bitcoin but other coins are still suspended. In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

Bitget already offers bitcoin withdrawal from exchange but you are a bit wrong because they not only offer bitcoin withdrawal through binance smart chain network but also you can withdraw btc through bitcoin network, I just checked the exchange and withdrawal through lighting network is still closed, So those who are able to move their bitcoins using these two networks will be able to do P2P on other exchanges and even those users will have the opportunity to transfer their assets to a hardware wallet.

This Bitget hack has broken the hearts of many who only use their P2P services, including myself, because of their active fight against scammers. I hope they resume P2P fast enough so they don't loose much of their clients to competitors. Up until now, I'm still thinking of how I would go back to dealing with the bad eggs of Bybit, I only hope a good in house cleansing job has been done to rid their exchange of the scammers that previously plagued it.

I read a rumor that other services would be restored in Bitget by tomorrow, I don't know how true it is

[PremiumcryptoHub]

They have resumed the withdrawal from bitcoin but in Binance Smart Chain and not in bitcoin network. You can also confirmed this. Here is the announcement I got from them this morning. And I also checked the exchange to confirm and it is true they have removed the suspension from bitcoin but other coins are still suspended. In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

Bitget already offers bitcoin withdrawal from exchange but you are a bit wrong because they not only offer bitcoin withdrawal through binance smart chain network but also you can withdraw btc through bitcoin network, I just checked the exchange and withdrawal through lighting network is still closed, So those who are able to move their bitcoins using these two networks will be able to do P2P on other exchanges and even those users will have the opportunity to transfer their assets to a hardware wallet.

This Bitget hack has broken the hearts of many who only use their P2P services, including myself, because of their active fight against scammers. I hope they resume P2P fast enough so they don't loose much of their clients to competitors. Up until now, I'm still thinking of how I would go back to dealing with the bad eggs of Bybit, I only hope a good in house cleansing job has been done to rid their exchange of the scammers that previously plagued it.

I read a rumor that other services would be restored in Bitget by tomorrow, I don't know how true it is

Bitget exchange was hacked but they have already promised to allow customers to withdraw cryptocurrencies as evidenced by the fact that many members have already withdrawn bitcoins and they are already offering ethereum withdrawals on the ethereum network. They also offer the ability to withdraw Ethereum from several other networks, including Arbitrium One and Base.

They offer step by step all coin withdrawals and P2P I mentioned it earlier you may not have noticed. Basically, this exchange will launch P2P service from October 2, from which time users of this exchange will have the opportunity to sell their crypto assets.

[Ronsbit]

If your money gets missing in your bank account in Nigeria yes you can lay a complaint to your bank but there is no guarantee your bank will recover your money. I have seen people lose money in their bank account and when they  lay a complaint to their bank they could not get a good explanation how their money got missing. I will never prefer bank more than centralized exchanges because to me bank and centralized exchange is the same thing. Yes i cannot keep all my money in crypto because i need to save paper money in my bank account that i will use to solve my problem in my country.

Exchange and the banks are almost the same format. The only difference is that the bank controls fiat while the exchange controls Crypto currency. But to some extent, the exchange can be able to trace transaction to the end and go after the culprit if they are within their reach while getting the government agency involved because they Are also am arm of the government in the Crypto industry and besides, they are licensed and pay tax to the government so they would get the maximum support they derive from the government whenever they want.

[Obim34]

In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

There was little to worry, Bitget already stated they would be back in operation, I kept on following news from their channels, and they’ve been following the deadlines they gave for each operation. I’m happy users funds are safe and the exchange didn’t shut down because they were unable to clear up customers loss, good they had enough in their reserve.

[POPOLUV]

It's not as if keeping money is the bank is safe I'm just saying that if your money gets missing in your bank account you can lay a complaint and it get solved despite the stress you might go through.

You cannot keep all your money in self custody wallets, that's just the truth because you will need money to use as everyday payment which of course crypto assets are not used for everyday transactions in Nigeria. However, even if you keep all your money in crypto asset it will still require you to convert to fiat currency whenever you needed money in your currency. This is just the area am talking about preferring bank more than centralized exchanges.

If your money gets missing in your bank account in Nigeria yes you can lay a complaint to your bank but there is no guarantee your bank will recover your money. I have seen people lose money in their bank account and when they  lay a complaint to their bank they could not get a good explanation how their money got missing. I will never prefer bank more than centralized exchanges because to me bank and centralized exchange is the same thing. Yes i cannot keep all my money in crypto because i need to save paper money in my bank account that i will use to solve my problem in my country.

I'm a victim of such situation back then in year 2016, when i was saving money from my IT program, so that i can hold on something if i finally go back for high national diploma (HND), so on one faithful morning i started receiving debit alerts and before i could reach my bank,  all my money was wipe out from my account and when lay my complain with the customer service, when they checked their system to see who withdraw all my money and how the money take miss, i didn't believe what customer service was saying to me that my money can never be traced on who is responsible for such arct and the reason behind my money missing from my bank account and that very day when such incident, i felt so restless but i vow never to bank with that particular bank, because they can be able to give account to my money i felt i was saving in the bank, so that thief will not get access to the money and unknowing i don't know bank is not 100% secure, so when making a decision of using centralized exchanges, you should just have to be careful on the kind of exchange wallets you should go for and pray that hackers should not gain access to any Banks or centralized exchange.

[MorganaX]

They have resumed the withdrawal from bitcoin but in Binance Smart Chain and not in bitcoin network. You can also confirmed this. Here is the announcement I got from them this morning. And I also checked the exchange to confirm and it is true they have removed the suspension from bitcoin but other coins are still suspended. In that case, you can convert your coins to bitcoin and withdraw them to another exchange for p2p.

Bitget already offers bitcoin withdrawal from exchange but you are a bit wrong because they not only offer bitcoin withdrawal through binance smart chain network but also you can withdraw btc through bitcoin network, I just checked the exchange and withdrawal through lighting network is still closed, So those who are able to move their bitcoins using these two networks will be able to do P2P on other exchanges and even those users will have the opportunity to transfer their assets to a hardware wallet.

This Bitget hack has broken the hearts of many who only use their P2P services, including myself, because of their active fight against scammers. I hope they resume P2P fast enough so they don't loose much of their clients to competitors. Up until now, I'm still thinking of how I would go back to dealing with the bad eggs of Bybit, I only hope a good in house cleansing job has been done to rid their exchange of the scammers that previously plagued it.

I read a rumor that other services would be restored in Bitget by tomorrow, I don't know how true it is

Bitget exchange was hacked but they have already promised to allow customers to withdraw cryptocurrencies as evidenced by the fact that many members have already withdrawn bitcoins and they are already offering ethereum withdrawals on the ethereum network. They also offer the ability to withdraw Ethereum from several other networks, including Arbitrium One and Base.

They offer step by step all coin withdrawals and P2P I mentioned it earlier you may not have noticed. Basically, this exchange will launch P2P service from October 2, from which time users of this exchange will have the opportunity to sell their crypto assets.

Their professionalism on this matter shows that they are really a big exchange and have the interest of their customers at heart because I remember when birtmart exchange out of nowhere decided to shut down their operation fully knowing fully well that a whole lot of users still have their funds in the platform and it gets crazy when they suddenly restricted everyone from actually withdrawing from the platform and up till now, I still have like 70$ locked up without any access to it on birtmart exchange.