Wu said he learned that during a livestream, Bitget CEO Gracy Chen stated that at present it is not yet possible to fully confirm the attacker’s identity, but certain IPs highly match the VPN characteristics used by a North Korea–related group. The attacker’s methods are professional, and they may have been paying attention to Bitget for a long time. The assets affected this time mainly came from hot wallets. A wallet that looks like a cold wallet is actually a warm wallet; the cold wallet was not affected. She said that Bitget’s protection fund of more than $465 million can cover the losses, and the platform also has more than $1 billion in its own funds. Suspending withdrawals could last for several hours to one or two days. She said Bitget is “absolutely not another FTX,” and it can handle concentrated withdrawals after withdrawals resume. Bitget’s retail business scale is close to Bybit’s; if Bybit can withstand a $1.5 billion loss, then Bitget can also withstand losses of more than $300 million.