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#Bitget #$351.6M affected — but the bigger question is how the attacker reached the signing/authorization pipeline.

Bitget says approximately $351.6M in assets were affected, involving portions of its hot and warm wallet layers, while cold wallets remained secure. The exchange also says its $464M+ User Protection Fund is sufficient to cover the reported amount.

#BitgetWallet
The more important security issue is the attack path.
Bitget’s preliminary investigation indicates that a critical backend system in its wallet infrastructure was compromised. The attacker reportedly spoofed transaction data and triggered Bitget’s normal authorization process. Bitget says a direct private-key compromise has been ruled out.#BitgetExchange
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That makes the incident more than a simple “private key leak.” The key question now is how the attacker gained access to the backend system and why existing controls allowed unauthorized transactions to pass through the authorization pipeline.
Bitget has paused withdrawals while its# security review continues, while deposits and trading remain operational. The company has also said it will publish a full incident report covering the root cause and corrective actions.
Bitget +1
The protection fund may cover the financial impact.
The technical report will tell us whether the underlying security weakness has actually been fixed.#BitgetToken

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