🚨 **Crypto World Woke Up to a Cyberattack of About $352 Million!**
The Bitget exchange was hacked, and withdrawals have been temporarily halted. The critical question on the minds of millions of students: *Is our money safe?*
Here are verified details and the first technical findings:
* 🕒 **Timing:** On the evening of September 24, at 21:31 (Turkey time), security systems detected unusual transfers.
* 💰 **Loss Size:** According to Bitget’s official statement, the affected amount was approximately **$351.6 million**.
* 🪙 **Stolen Assets:** According to Lookonchain services, about 103 million XRP, 31,890 Ethereum, as well as USDT and USDC in the world, and Avax, BNB, TRX, and the tokenized gold XAUT were targeted.
* 🔓 **How Was the Attack Carried Out?** Based on the initial technical findings shared by CEO Grace Chen, the attackers did not obtain the private keys. Instead, they seized a critical back-end system in the budgeting setup and generated fake transfer data, using the exchange’s own authorization process. In other words, a counterfeit payment instruction was sent to the treasury, and the system executed the transaction, mistaking it for a real order.
* 🛡️ **Are the Funds Safe?** Bitget says that the cold storage resources were not affected and that user account balances are protected. The user protection fund disclosed by the company is above $464 million; however, it is not yet clear when withdrawals will be resumed.
* 🌐 **Bitget Wallet Status:** It was announced that no impact was detected for **Bitget Wallet** users who manage their own private keys in self-custody.
🔍 **So what does this incident teach us?** Merely having an exchange’s reserves is not enough; it’s also crucial to understand how transfers are approved and how robust the security measures behind the scenes are.
The Bitget exchange was hacked, and withdrawals have been temporarily halted. The critical question on the minds of millions of students: *Is our money safe?*
Here are verified details and the first technical findings:
* 🕒 **Timing:** On the evening of September 24, at 21:31 (Turkey time), security systems detected unusual transfers.
* 💰 **Loss Size:** According to Bitget’s official statement, the affected amount was approximately **$351.6 million**.
* 🪙 **Stolen Assets:** According to Lookonchain services, about 103 million XRP, 31,890 Ethereum, as well as USDT and USDC in the world, and Avax, BNB, TRX, and the tokenized gold XAUT were targeted.
* 🔓 **How Was the Attack Carried Out?** Based on the initial technical findings shared by CEO Grace Chen, the attackers did not obtain the private keys. Instead, they seized a critical back-end system in the budgeting setup and generated fake transfer data, using the exchange’s own authorization process. In other words, a counterfeit payment instruction was sent to the treasury, and the system executed the transaction, mistaking it for a real order.
* 🛡️ **Are the Funds Safe?** Bitget says that the cold storage resources were not affected and that user account balances are protected. The user protection fund disclosed by the company is above $464 million; however, it is not yet clear when withdrawals will be resumed.
* 🌐 **Bitget Wallet Status:** It was announced that no impact was detected for **Bitget Wallet** users who manage their own private keys in self-custody.
🔍 **So what does this incident teach us?** Merely having an exchange’s reserves is not enough; it’s also crucial to understand how transfers are approved and how robust the security measures behind the scenes are.