Bitget CEO Gracy Chen said in a livestream that attackers exploited a vulnerability in a third-party security product to steal internal credential permissions and forge withdrawal instructions to the exchange’s wallet system, bypassing risk-control checks. She said private keys were not compromised and cold wallets were not affected, adding that the vulnerability has been fixed and the incident is now fully contained.
Chen said the amount confirmed to have been moved out was about $388 million. She also said Bitget has publicly released the attacker addresses and on-chain tracking data. According to Chen, all losses from the incident will be covered by the user protection fund, and the exchange will replenish that fund to at least $300 million within one week after using it. Bitget has also started an asset recovery plan and will share confirmed vulnerability and attack details with relevant industry parties.
Bitget CEO Gracy Chen said in a livestream that attackers exploited a vulnerability in a third-party security product to obtain internal credential permissions, then forged withdrawal instructions to the wallet system and bypassed risk-control checks.
She said private keys were not leaked and cold wallets were not affected. The vulnerability has been fixed, and the incident is now fully contained.
The amount confirmed to have been moved out was about $388 million, according to Chen. She added that the attacker addresses and on-chain tracking data have already been made public.
Chen said all losses from the incident will be covered by the user protection fund. Bitget will replenish the fund to at least $300 million within one week after drawing on it.
Bitget has also launched an asset recovery plan and will share confirmed vulnerability and attack information with relevant industry parties.
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