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Bitget’s $352 Million Breach Attributed to Spoofed Transfers Rather Than Private‑Key Theft, 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 custodial wallets. Contrary to early speculation that the breach might have involved the theft of private keys—a scenario that would imply a direc…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Resulted from Faked Transfers, Not Stolen Private Keys, Says CEO Gracy Chen
In a recent statement posted on the social media platform X, Gracy Chen, the chief executive officer of Bitget, clarified the mechanics behind the massive security breach that saw the cryptocurrency exchange lose roughly $352 million. Contrary to early speculation that the attackers might have obtained private keys and directly siphoned funds from users’ wallets, Chen emphasized that the breach w…
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 resulted from falsified transfers rather than stolen private keys, says CEO Gracy Chen
In a recent statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, provided a detailed account of the massive security breach that resulted in the loss of approximately $351.6 million from the exchange’s custodial wallets. Contrary to the common narrative that such large‑scale crypto thefts are typically the result of private‑key compromises, Chen clarified…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Attributed to Faked 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 breach that resulted in the loss of approximately $352 million from the exchange’s holdings. Contrary to early speculation that the attackers might have obtained private cryptographic keys—an event that would suggest a direct compromise of …
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 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 Clarifies Bitget's $352 Million Breach Was Due to Spoofed Transfers, Not Private Key Theft
In a detailed statement posted on the social media platform X, Bitget’s chief executive officer, Gracy Chen, provided a comprehensive explanation of the massive security incident that resulted in the loss of approximately $351.6 million from the cryptocurrency exchange’s custodial wallets. Contrary to early speculation that the breach might have involved the theft of private keys—an often‑cited v…
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 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 saw the cryptocurrency exchange lose roughly $352 million. Contrary to the common narrative that such large‑scale losses are typically the result of private keys being stolen, Chen emphasized that the attackers did not actuall…
Sept. 25, 2026, 4:29 a.m.
Markets
Bitget’s $352 Million Breach Resulted from Counterfeit Transfers, Not Private‑Key Theft, Says CEO Gracy Chen
In a recent statement posted on the social media platform X, Gracy Chen, the chief executive officer of Bitget, clarified the mechanics behind the massive financial breach that shook the cryptocurrency exchange earlier this year. According to Chen, the loss of roughly $351.6 million was not the result of a traditional private‑key compromise, a scenario that often dominates headlines in the crypto…
Sept. 25, 2026, 4:29 a.m.