The CEO of Bitget stated that after the Bitget affected by a hacker attack had restored customer withdrawals, investors withdrew over 4,000 bitcoins within an hour, worth more than $334 million at current prices.

Bitget CEO Gracy Chen said to Bloomberg TV on Tuesday that after this wave of instant Bitcoin withdrawals, the exchange's withdrawal situation has since stabilized.

Last week, hackers launched an attack on the hot wallets of a exchange headquartered in Victoria, Seychelles, stealing encrypted assets worth $388 million.

Chen indicates that 'today's withdrawals have actually stabilized a lot. The majority of those hundreds of millions of dollars in (Bitcoin withdrawals) actually occurred within the first hour after withdrawals were resumed.'

Chen reported on Monday on platform X that the platform processed a total of 9,585 orders involving 4,098 bitcoins. The exchange is currently allowing customers to withdraw their funds in phases.

After blockchain experts noticed that funds were flowing out of the exchange, Bitget froze withdrawals. Bitget subsequently stated that the attack methodology in this incident "highly coincides with the patterns of known North Korean hacker groups."

According to Chen, no funds in cold wallets were affected. The attackers "exploited vulnerabilities in third-party products to steal internal credentials, and then used these credentials to issue fraudulent withdrawal instructions, thereby bypassing our risk control measures."

She also added that after the reduction in the size of the protection fund, the company is using its own funds to replenish it. Bloomberg reported that the fund was $464 million before the hacker attack and had dropped below $200 million afterwards.

Bitget indicates that this is the first time such a security incident has occurred in eight years.

The exchange stated: "The incident is still under control, and it is no longer possible for any further unauthorized transfers to occur."

According to CoinGecko data, calculated by trading volume, Bitget is the sixth largest exchange in the world, having processed $811 million in transactions over the past 24 hours. The majority of customers of this exchange are located in Asia.

For a long time, attackers associated with the North Korean government have been targeting cryptocurrency exchanges and are considered among the most sophisticated cybercriminals.