Bitget's $352 million hack happened via spoofed transfers, not private keys, CEO Gracy Chen says
Summary
Bitget reported an overnight hack that drained $351.6 million from hot and warm wallets after attackers compromised backend infrastructure and spoofed transaction data to pass the exchange’s authorization process. CEO Gracy Chen said private keys were not compromised, the unauthorized transfers have been contained, and cold wallets remain secure. Bitget says its $464 million-plus User Protection Fund covers the loss and that user balances are safe. Deposits and trading remain open, but withdrawals are suspended while security reviews and remediation continue; no restart timeline has been given. The intrusion method remains under investigation, with a technical report to follow.
