$352 Million Hack on Bitget Caused by Spoofed Transfers, Says CEO Gray Chen

Bitget's CEO Gray Chen has spoken out about the $352 million hack that occurred on the exchange, stating that it was caused by spoofed transfers rather than compromised private keys.

The incident, which took place in April this year, resulted in the theft of a significant amount of cryptocurrency from user accounts.

According to Chen, the hackers were able to execute the spoofed transfers through Bitget's interface without triggering any alarms or alerts.