$387M Stolen in Bitget Hack Amid Debate Over Crypto Fund Blocks

Crypto exchange Bitget suffered a massive security breach on September 24, resulting in the theft of $387.5 million.

The attacker exploited a zero-day flaw in a third-party security product to gain admin access and insert fake withdrawal commands into Bitget's wallet backend.

Betget's reconciliation system spotted the issue just seven minutes after the first large transfer, and the exchange blocked all user withdrawals platform-wide.

NEAR Intents' SHIELD system flagged and blocked more than $50 million in attempted transfers connected to the hack, although about $166,000 in suspected stolen funds still slipped through.