Bitcoin Outflows From Bitget Hacker Reach $78.61M in Six Days

The Bitget hacker moved $78.61 million in Bitcoin from tracked wallets between Nov. 6 and Nov. 11. In an X post, blockchain analytics firm Arkham reported that $63.43 million in Bitcoin had moved through CoinJoin transactions, which combine inputs from multiple users.

Those transactions accounted for 847.26 $BTC, or about 80.5% of the Bitcoin that left the tracked wallets. Arkham traced 579.80 $BTC directly from the labeled wallets. Another 267.46 $BTC passed through intermediary addresses before reaching CoinJoin.

When Bitcoin Outflows Peaked

Daily transfers climbed for three straight days after falling to 16.75 $BTC on Nov. 8. The largest outflow came on Nov. 11, when 296.74 $BTC worth $21.83 million left the wallets by 11:58 UTC.

Of the 205.08 $BTC Arkham tracked in other transfers, 172.33 $BTC remained unspent across 250 addresses. Bitcoin also made up more than 99% of the $71.86 million that the labeled wallets still held.

How Bitget Is Pursuing Recovery

Bitget initially valued the assets taken in the Sept. 24 breach at $351.6 million. After counting Zcash and TRON assets it had omitted from the first tally, the exchange raised the figure to $387.5 million.

Under its recovery program, Bitget offers eligible participants 5% of the funds they directly help freeze and a separate 5% of the funds they directly help recover. The exchange said in September that it had fixed the vulnerability and was working with Mandiant and SlowMist on the investigation.

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