🚨 Bitget hacked for $351.6 million… and the industry unites
On September 24, Bitget suffered a breach affecting hot wallets worth approximately $351.6 million.
Private keys were not stolen; the attack targeted the backend system by forging transaction data.
Key points:
• Users’ funds are safe and fully covered by the Protection Fund (over $464 million).
• Cold wallets were not affected.
• Withdrawals are temporarily paused, while trading and deposits continue.
What stands out in this incident is the stance taken by industry leaders:
🔹 Binance (via Co-CEO Richard Teng): announced that Binance’s security team has been working closely with Bitget since the very first moment, sharing security information, tracking the movement of stolen funds, and supporting recovery efforts.
🔹 Bybit (via Ben Zhou): provided full support and activated the LazarusBounty platform to track the funds, confirming that Bitget had helped them previously in a similar incident.
This collaboration reminds us that exchange attacks are no longer a solitary matter… but a collective battle between the industry and the attackers.
What do you think? Is having Protection Funds enough, or is reliance on hot wallets still a major weakness?
#SecurityAlert #HackerNews #crypto #Binance #BTC
On September 24, Bitget suffered a breach affecting hot wallets worth approximately $351.6 million.
Private keys were not stolen; the attack targeted the backend system by forging transaction data.
Key points:
• Users’ funds are safe and fully covered by the Protection Fund (over $464 million).
• Cold wallets were not affected.
• Withdrawals are temporarily paused, while trading and deposits continue.
What stands out in this incident is the stance taken by industry leaders:
🔹 Binance (via Co-CEO Richard Teng): announced that Binance’s security team has been working closely with Bitget since the very first moment, sharing security information, tracking the movement of stolen funds, and supporting recovery efforts.
🔹 Bybit (via Ben Zhou): provided full support and activated the LazarusBounty platform to track the funds, confirming that Bitget had helped them previously in a similar incident.
This collaboration reminds us that exchange attacks are no longer a solitary matter… but a collective battle between the industry and the attackers.
What do you think? Is having Protection Funds enough, or is reliance on hot wallets still a major weakness?
#SecurityAlert #HackerNews #crypto #Binance #BTC
