Bitget Reveals $388 Million Hack Caused by Third-Party Zero-Day Vulnerability

Bitget CEO Gracy Chen confirmed that attackers exploited a zero-day vulnerability in a third-party security product to bypass risk controls and withdraw approximately $388 million from hot and warm wallets. The exchange stated that private keys and cold wallets remained secure, and user balances are unaffected, with losses covered by the Bitget User Protection Fund. The platform is working with Mandiant and SlowMist on investigations and asset recovery, and plans to replenish the protection fund to at least $300 million within a week.