Bitget CEO says $388M hack exploited third-party security vulnerability
Some stolen assets have been frozen, but Bitget has yet to disclose how much has been recovered as investigators continue to assess a possible North Korea link.
Some stolen assets have been frozen, but Bitget has yet to disclose how much has been recovered as investigators continue to assess a possible North Korea link.
Bitget CEO Gracy Chen said the crypto exchange’s recent $388 million exploit stemmed from a vulnerability in a third-party security product that allowed the attacker to obtain “high-level internal credentials.”
In comments to Cointelegraph, Chen said the attacker used those credentials to issue fraudulent withdrawal commands. Bitget’s private keys were not compromised, and its cold wallets were not affected, she said.
The exchange has not disclosed how much of the stolen crypto has been recovered or frozen. Chen said some assets have been frozen with help from other industry participants, but Bitget would release a total only after verifying the amounts.