Bitget Hackers Consolidate Stolen Funds into Bitcoin

Bitget, a major cryptocurrency exchange, suffered a massive hack on September 24th, resulting in the theft of approximately $387.5 million.

The attackers, who remain unidentified, used compromised third-party security software to gain high-level internal credentials and submit forged withdrawal commands directly into Bitget's wallet system.

According to BlockSec, a security firm that analyzed the breach, the stolen funds were moved quickly through various cross-chain services, with around $342 million still under attacker control five days after the hack began.

The majority of the funds, approximately 83.7%, have been consolidated into Bitcoin, with some $269 million passing through THORChain and another $37.27 million handled by Chainflip.