Blockchain intelligence firm Arkham reported that wallets linked to the September Bitget breach moved $19.48 million in 52 transfers between 10:02 UTC on Oct. 21 and 02:48 UTC on Oct. 24. Bitcoin accounted for $19.33 million of the total, with Ether making up the smaller remainder, and nearly all funds were sent to new addresses.
Arkham asked whether the Bitget hacker is laundering stolen funds, but did not identify any exchange, mixer, or over-the-counter desk receiving the latest transfers. The firm also said the attacker has sent $78.01 million to new addresses since Oct. 15, with daily movements including $23.31 million on Oct. 15, $10.51 million on Oct. 18, $15.13 million on Oct. 20, and $7.3 million on Oct. 23.
The hacker’s remaining labeled holdings were valued at $242.54 million, including 2,960.01 BTC worth about $241.99 million, plus smaller balances on Ethereum, Hypercore, Solana, and Tron. Arkham described that amount as 69% of a $350 million theft, while Bitget’s revised estimate puts the incident at about $387.5 million.
Earlier tracing by AMLBot and Bitquery showed stolen funds moving through CoinJoin, THORChain, Chainflip, USDT0, and cross-chain swaps in September. Bitget has said the breach stemmed from a vulnerability in a third-party security product that allowed forged withdrawal commands, but customer balances remain unaffected and withdrawals were fully restored by Oct. 2. CEO Gracy Chen said the Protection Fund had returned above $300 million, and the exchange offers a 5% recovery reward for eligible actions that freeze or recover assets.
Bitcoin traded near $80,666 at the time of reporting. Separately, security firm Hacken said third-quarter crypto hack losses reached $1.18 billion across 107 incidents, up 55% from the second quarter.
