Bitget Experiences $388M Breach as AlphaPepe Brings AI DEX Early Access

Bitget, a cryptocurrency exchange, has revealed that attackers exploited a flaw in a third-party security product to send false withdrawal commands, resulting in the loss of approximately $388 million from its exchange wallet system on September 24. However, Bitget notes that user balances remain unchanged and its Protection Fund covers the financial impact.

The exchange says it has fixed the flaw and is restoring withdrawals while outside specialists continue their investigation. In a separate development, AlphaPepe has made its AI DEX, AlphaSwap, available for early access to presale buyers, allowing them to inspect the trading interface before its listing on public exchanges.