Bitget Hackers Walk Away with $351.6 Million in Cryptocurrency

Bitget's $351.6 million hack in September resulted in the theft of over 103 million XRP, worth around $157 million at that time.

The attackers exploited a vulnerability in Bitget's backend system by sending fake transaction data that tricked the exchange's approval process into approving 19 unauthorized withdrawals from its 'hot' and 'warm' wallets.

XRP made up about 44% of the stolen assets, with the remaining funds consisting of Ethereum, stablecoins like USDT and USDC, XAUt, and smaller amounts of BNB, Avalanche, and Tron.

The attackers moved quickly to convert a significant portion of the stolen assets into ETH, effectively distancing themselves from potential freezes.