Bitget Suffers $388 Million Loss in Third-Party Zero-Day Attack

On September 24, hackers exploited a zero-day vulnerability in a third-party security product to execute fraudulent withdrawals from Bitget, resulting in a $388 million loss across Ethereum, XRP, and Zcash. CEO Gracy Chen confirmed that while Tether, Circle, and NEAR Intents froze some funds, only $632,000 has been recovered. The exchange utilized its protection fund to cover user losses, and Chen reported being targeted by scammers impersonating an investment firm following the incident.