Bitget Hack Sees Over 4,000 BTC Withdrawn Within First Hour
On September 28, Bitget cryptocurrency exchange began to gradually restore user withdrawals after a massive hack on September 24. The attack saw an estimated $387.5-388 million in unauthorized transactions, with hackers exploiting a vulnerability in an external security product.
Bitget's CEO Gracy Chen revealed that the exchange processed over 9,585 withdrawal requests worth approximately 4,098.036 BTC within the first hour of restoring withdrawals. This translates to around $334 million at the time of the hack, according to Bitget.
The exchange initially suspended all withdrawals following the hack but has since reinstated access to certain assets. Chen stated that most of the large-scale bitcoin withdrawals occurred during the initial hour after withdrawal services were restored.
Bitget's security review revealed that hackers used a well-known method employed by North Korean hacking groups to breach the exchange's security. The exact extent of the hack remains under investigation, with authorities working to identify those responsible.