Bitget Hack: $157M in XRP Stolen as Exchange Investigates Security Breach

The crypto community was rocked by a major security breach at Bitget exchange, with over $157 million in XRP stolen in what's being called the biggest hack to date. The incident occurred on September 24 when attackers compromised a backend system connected to Bitget's wallet infrastructure.

According to preliminary analysis, the hackers did not directly steal Bitget's private keys but instead spoofed transaction data and manipulated transfer history, tricking the exchange's automated withdrawal system into approving unauthorized transactions.

The stolen XRP was worth around $157.48 million at the time of the incident, far exceeding losses in other affected assets such as ETH ($85.75 million), USDT ($34.75 million), and USDC ($21.06 million).