Bitget Suffers $351.6 Million Hack via Supply Chain Attack

Bitget reported a security breach on September 25 at 02:31 Beijing time, resulting in the theft of approximately $351.6 million from its hot and warm wallets. CEO Gracy Chen confirmed that cold wallets remain secure and the exchange's $464 million user protection fund is sufficient to cover the losses. Preliminary investigations suggest a supply chain attack involving a compromised third-party tool used by the exchange, which allowed attackers to forge transfer requests. The attacker's strategy of converting stablecoins into ETH mirrors tactics previously used by the Lazarus Group. Bitget has suspended withdrawals while maintaining deposits and trading, and is working with law enforcement to investigate the incident.