Bitget Greater China head Xie Jiayin addressed community concerns in a recent livestream, calling the incident the first security crisis in the exchange’s eight-year history. He said Bitget has prioritized user asset security since its founding and has maintained a long-term operating record while fending off multiple cyberattack attempts.
According to Xie, the incident was traced to a targeted attack on the supply chain of third-party security software. The attacker used a vulnerability in a third-party product to obtain internal network credentials. Bitget said its private keys were not leaked and assets held in cold wallets were not affected.
The exchange has brought in security firms Mandiant and SlowMist to conduct an independent review. It also plans to upgrade monitoring and management standards for third-party components. Xie said Bitget is working on a full recovery from the incident and will continue technical and system upgrades aimed at improving security standards.
Bitget Greater China head Xie Jiayin addressed community concerns in a recent livestream, saying the incident was the first security crisis in the exchange’s eight-year history.
Xie said Bitget has treated user asset security as its top priority since the company was founded eight years ago. He added that the platform had previously resisted multiple cyberattack attempts and maintained a long-term security operating record.
After a full trace-back review, Bitget said the incident was a targeted attack involving the supply chain of third-party security software. According to the company, the attacker exploited a vulnerability in a third-party product to obtain internal network credentials. Bitget said its private keys were not leaked and assets in cold wallets were not affected.
Bitget has now engaged security firms Mandiant and SlowMist to carry out an independent review. The exchange also said it will fully upgrade its monitoring and management standards for third-party components.
Xie said the company is focused on full recovery after the incident and will keep upgrading its technology and security framework.
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