Bitget Chinese-language regional head Xie Jiayin said on Sept. 25 that the exchange’s security team has accurately identified the attack path and methods used in the latest hack, and has also obtained details on how the attacker bypassed security protections. He said the company is now very close to tracing the source of the attack.
According to Xie, third-party security firms Mandiant and SlowMist are still investigating the incident, and a detailed report will be released by the security team later. On-chain tracking has confirmed that about $387.5 million in assets was transferred to hacker-controlled addresses, up from an earlier estimate of $351.6 million. The revised figure includes ZEC and TRX, and Bitget said no other unauthorized asset transfers have been found so far.
Xie also said the platform-level losses will be fully covered by Bitget’s user protection fund, with no losses to user assets. In addition, Bitget has formally launched a fund recovery bounty program offering a 5% reward to participants who actively help freeze or recover the attacker’s funds.
Bitget is close to tracing the source of its latest hack, according to Xie Jiayin, the exchange’s Chinese-language regional head.
In a post on Sept. 25, Xie said the security team has accurately identified the attack path and the methods used in the breach. He added that the team has also obtained details on how the attacker bypassed security protections, and said the investigation is now very close to identifying the source of the attack.
Third-party security firms Mandiant and SlowMist are still investigating the incident. A detailed report will be released after the security team completes its work, Xie said.
Transferred assets revised higher
Xie said on-chain tracking has confirmed that about $387.5 million in assets was moved to hacker-controlled addresses, higher than the earlier estimate of $351.6 million. The revised total includes ZEC and TRX. He added that no other unauthorized asset transfers have been identified so far.
Bitget to fully cover losses and offer bounty
According to Xie, the stolen funds at the platform level will be fully covered by Bitget’s user protection fund, and user assets will not suffer losses.
Bitget has also formally launched a fund recovery bounty program. Participants who actively help freeze or recover the attacker’s funds will be offered a 5% bounty.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
