đš Bitget lost around $387M without its cold wallets being compromised. đ
The reported exploit began on September 24, with losses later estimated around $387.5M as investigators tracked additional assets and chains.
The unusual part?
đ Cold wallets were reportedly untouched
𧩠Attackers manipulated backend transaction data
âïž The resulting transfers were authorized as if they were routine
đĄïž Bitget says its Protection Fund will cover the loss
Circle and Tether also froze around $318K in stablecoins linked to the attacker.
This is a different kind of security lesson:
You don't always need the private key if the system around the key can be manipulated.
Bitget has said withdrawals are expected to resume from September 28.
đ Is backend security becoming just as important as private key security?
$POPCAT $BLESS $SPORTFUN
