Bitget Hacked for $388 Million Due to Zero-Day Exploit

Bitget, a cryptocurrency exchange, has been hacked, resulting in the theft of approximately $388 million. The hack was attributed to a zero-day exploit on Aug. 31, which allowed an attacker to gain access to Bitget's hot wallets. The funds were then transferred to addresses controlled by the attacker across multiple blockchains.

According to SlowMist, a security company that investigated the breach, the attacker used a custom withdrawal tool to manipulate the wallet system's withdrawal process. The tool forged risk-control parameters and constructed withdrawal requests, which were then invoked by the attacker.

The investigation found that the attacker accessed the management platform of a second security product using an internal employee's identity on Sept. 25. The attacker attempted to inject system commands, alter server configurations, and upload malicious program files.