Bitget CEO Addresses Platform's First Security Incident in Eight Years During Livestream: Attack Stemmed from Third-Party Security Product Vulnerability, Losses Covered by User Protection Fund

BlockBeats news, September 28 - In today's community livestream, Bitget CEO Gracy responded to recent security incidents and the platform's financial status. She candidly stated that this was the first security incident Bitget has encountered in its 8-year history. After complete tracing, hackers exploited vulnerabilities in third-party security products to steal internal network access credentials, forged withdrawal commands to the wallet system, and deceived the wallet into executing abnormal transfers that bypassed risk verification. Gracy emphasized that in this incident, private keys were not leaked and cold wallets were not affected. Specific technical details will be disclosed in detail in the official security report to be released.

Gracy pointed out that the verified losses from this incident are within the coverage of the protection fund, and user funds are not affected. The platform's own funds exceed $1.4 billion, including approximately $464 million in user protection fund. The platform will continue to uphold the security commitment made when the protection fund was established in 2022, and plans to continuously replenish the fund scale to the baseline of $300 million within one week.

"The protection fund is not just a slogan, but an important mechanism that provides tangible protection for users when extreme security incidents occur." Gracy stated that in the face of sudden security challenges, the platform's comprehensive strength and ability to proactively assume responsibility are important criteria for measuring its risk response capability and long-term credibility. Bitget will continue to uphold its long-term commitment to prioritizing user interests.