Bitget Tracker Logs 221 BTC In CoinJoin Transfers

Bitget’s recovery tracker recorded 221.24 Bitcoin (BTC) across 21 transactions it classified as Wasabi CoinJoins from 00:28 UTC on 11th November to 04:06 UTC on 12th November. Four of the transactions were confirmed on 12th November and accounted for 6.49 BTC. Bitget linked the tracker to its 24th September security incident when it announced its recovery programme.

A CoinJoin combines funds from several participants in a single Bitcoin transaction. That makes it harder to tell which participant controls the funds afterwards. The 221.24 BTC is the sum attributed to the Bitget incident in the tracker. Each transaction can also include funds from other participants.

Public Bitcoin records match the tracker’s inputs and block times for two of the transactions. The latest transaction was confirmed at 04:06 UTC and included 0.5 BTC from the address the tracker identified. The largest in the period included 63.45 BTC from 14 addresses listed by the tracker. The public ledger establishes those inputs and block times. The links to the Bitget incident and the CoinJoin classification come from the tracker. Our guide to what Bitcoin’s public ledger reveals explains how transaction records and ownership evidence differ.

The tracker’s figures for 6th to 11th November UTC show 81 transactions. It lists 928.23 BTC as deposited and counts 897.29 BTC under its separate measure for funds in mixers. These figures overlap with the more recent total on 11th November.

Separately, Arkham’s portfolio table listed 948.295 BTC at 05:48 UTC on 12th November across the addresses it associates with the incident. The figure is a balance at one point in time for Arkham’s address group. The Bitget tracker figures measure transaction activity over a period.

Bitget estimated the September incident’s impact at $388 million and said user account balances were unaffected. It said the exchange designated its protection fund to cover the impact and had replenished it to more than $300 million by 30th September. Its recovery programme ties bounties to affected funds that are frozen or recovered. Our report on the separate Binance security incident explains how funds frozen during recovery differ from funds used to cover losses. Bitget’s incident timeline dates the completion of its phased withdrawal restoration to 2nd October.