Bitget Greater China head Xie Jiayin addressed community concerns in a recent livestream, saying the platform’s latest incident was the first security crisis in Bitget’s eight-year history. He said the exchange had previously withstood multiple cyberattack attempts while keeping user asset security as its top priority.
According to Xie, Bitget’s tracing work found that the case was a special attack targeting the supply chain of third-party security software. The attacker used a vulnerability in a third-party product to obtain internal network credentials. He said private keys were not leaked and assets in cold wallets were not affected.
Bitget has started independent reviews with security firms Mandiant and SlowMist, Xie said. The company also plans to strengthen monitoring and management standards for third-party components. He added that withdrawals on the platform are being restored step by step as recovery work continues after the incident.
Bitget Greater China head Xie Jiayin said in a recent livestream that the platform’s latest case was the first security crisis in Bitget’s eight-year history, and that withdrawals are gradually being restored.
Xie said Bitget had consistently treated user asset security as its top priority since the company was founded 8 years ago. He said the platform had also fended off multiple cyberattack attempts and maintained a long-running security record.
Attack traced to a flaw in a third-party security product
According to Xie, a full trace of the incident found that it was a special attack aimed at the supply chain of third-party security software. The attacker used a vulnerability in a third-party product to obtain internal network credentials.
He added that private keys were not leaked and that assets held in cold wallets were not affected.
Independent reviews launched with Mandiant and SlowMist
Xie said Bitget has begun independent reviews with security firms Mandiant and SlowMist. The exchange will also fully upgrade its monitoring and management standards for third-party components.
He also said the platform is working on a full recovery after the incident and will continue technical iteration and system upgrades to improve its overall security capabilities.
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