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CEO Gracy Chen Explains That Bitget’s $352 Million Breach Resulted From Spoofed Transfers, Not Private Key Theft
In a recent statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, clarified the mechanics behind one of the most significant cryptocurrency security incidents of the year. The exchange reported a staggering loss of approximately $351.6 million, a figure that places the breach among the largest ever recorded in the digital asset space. Contrary to early spe…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 million breach resulted from falsified transfers rather than stolen private keys, says CEO Gracy Chen
In a startling revelation that has sent ripples through the cryptocurrency exchange community, Bitget disclosed that a massive financial breach—amounting to roughly $352 million—was not the result of a traditional private‑key theft. Instead, the perpetrators exploited a vulnerability in the platform’s internal wallet system, fabricating transaction records to siphon funds. The details were outlin…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Attributed to Counterfeit Transfers, Not Private Keys, According to CEO Gracy Chen
In a recent statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, clarified the mechanics behind the massive security incident that resulted in the loss of approximately $352 million from the exchange’s holdings. Contrary to early speculation that the breach might have involved the theft of private cryptographic keys—a scenario that would suggest a direct …
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Resulted from Faked Transfers, Not Private Key Theft, Says CEO Gracy Chen
In a startling revelation that has sent ripples through the cryptocurrency community, Bitget, one of the world’s prominent digital asset exchange platforms, disclosed that a massive financial loss of approximately $352 million was not the result of stolen private keys as initially feared, but rather stemmed from a sophisticated scheme involving spoofed transaction data. The company’s chief execut…
Sept. 25, 2026, 4:29 a.m.
Markets
CEO Gracy Chen Reveals Bitget’s $352 Million Breach Was Due to Spoofed Transfers, Not Private Key Theft
In a recent statement posted on the social platform X, Bitget’s chief executive officer, Gracy Chen, disclosed the mechanics behind one of the most significant cryptocurrency thefts of the year—a breach that resulted in the loss of approximately $351.6 million. Contrary to many early theories that suggested the attackers might have obtained private keys to directly siphon funds, Chen clarified th…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Attributed to Faked Transfers, Not Private Key Theft, According to CEO Gracy Chen
In late 2023, the cryptocurrency exchange Bitget suffered one of the most significant security incidents in the industry, with a reported loss of roughly $352 million. The breach, which shocked investors and regulators alike, was not the result of a classic private‑key theft, as many initially feared, but rather stemmed from a sophisticated manipulation of the exchange’s internal wallet infrastru…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Resulted from Counterfeit Transfers, Not Private Keys, According to CEO Gracy Chen
In a recent statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, clarified the mechanics behind the massive security incident that resulted in the loss of roughly $352 million from the exchange’s custodial wallets. Contrary to early speculation that the breach might have involved the theft of private cryptographic keys—a scenario that would imply a direct…
Sept. 25, 2026, 4:29 a.m.
Markets
CEO Gracy Chen Clarifies That Bitget’s $352 Million Breach Resulted from Spoofed Transfers, Not Private Key Theft
In a recent statement posted on the social media platform X, Gracy Chen, the chief executive officer of Bitget, shed light on the mechanics behind the massive security incident that led to the loss of roughly $352 million from the cryptocurrency exchange’s reserves. Contrary to early speculation that the breach might have involved the direct theft of private keys—an often‑cited vulnerability in t…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Attributed to Counterfeit Transfers, Not Private Keys, Says CEO Gracy Chen
In a recent statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, clarified the mechanics behind the massive security incident that resulted in the loss of roughly $352 million from the cryptocurrency exchange’s holdings. Contrary to earlier speculation that the breach might have involved the theft of private keys—an often‑cited vulnerability in digital as…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Resulted from Spoofed Transfers, Not Private Keys, Says CEO Gracy Chen
In a startling revelation that underscores the evolving sophistication of cyber‑crime in the cryptocurrency sector, Bitget—one of the world’s leading digital‑asset exchanges—has disclosed that a massive theft of approximately $351.6 million was carried out not by stealing private keys, as many initially feared, but by exploiting a vulnerability in its wallet‑backend system to spoof transaction da…
Sept. 25, 2026, 4:29 a.m.