Bitget’s $352 million hack happened via spoofed transfers, not private keys, CEO Gray Chen says
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Summary
- Bitget lost $351.6 million after attackers compromised a wallet backend, spoofed transaction data and triggered the exchange’s authorization process, though the company said its private keys were not compromised.
- The breach affected hot and warm wallets, but Bitget said its offline cold wallets remained secure and that it had stopped further unauthorized transfers.
- Bitget said its $464 million-plus User Protection Fund would cover the loss, while deposits and trading remain open and withdrawals are suspended pending a security review.
