Bitget experienced a major security incident on September 24, with around $387.5 million reportedly traced to attacker addresses.
Some hot wallet systems were affected, withdrawals were paused, but cold wallets were not compromised. The exchange says the vulnerability has been fixed, and claims its protection fund covers the impacted assets.
The CEO, Gracy Chen, suggested that the methods are consistent with those used by North Korean hacker groups, but the investigation is still ongoing, as are recovery efforts.
And no matter how this plays out, It’s a reminder, not your keys, not your coins. Keep a portion of your portfolio in your own cold wallet, not just on exchanges.