Bitget Hack Exposes Exchange Security Weaknesses as AlphaPepe Prepares for Fifth CEX Reveal
The Bitget cryptocurrency exchange has been hit with a massive hack, with the attackers making off with around $388 million in funds.
According to Bitget, the attackers exploited vulnerabilities in third-party security products to gain access to internal credentials and execute fraudulent withdrawal commands.
The exchange has stated that private keys and cold wallets were not compromised in the attack.
Independent investigations by SlowMist and Mandiant have supported Bitget's account of the attack.
In related news, AlphaPepe is preparing to announce its fifth CEX partnership, with the exchange name to be revealed within the next 10 days.
AlphaPepe has already announced four CEX partnerships and has raised over $2.87 million in its presale, with a holder count of over 12,200.