How Unauthorized Approvals Enabled the $387M Bitget Hack

Bitget revised its theft estimate to $387.5 million following a major security breach on September 24. CEO Gracy Chen suspects North Korean involvement, while Mandiant and SlowMist investigate the incident.

Anna Dovzhenko1 hour ago1 min read

How Unauthorized Approvals Enabled the $387M Bitget Hack

What initially appeared to be a minor security breach has escalated significantly, with Bitget revising its estimates to reveal that hackers made off with $387.5 million from its exchange wallets on September 24. While withdrawals continue to be paused, the company insists that its protection fund is sufficient to cover the shortfall. Security firms Mandiant and SlowMist have been brought in to investigate the incident, and CEO Gracy Chen has pointed to potential North Korean involvement.

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Written by Anna Dovzhenko

Anna Dovzhenko is a skilled PR and advertising professional with a strong focus on content strategy and brand communication. With a keen eye for storytelling and a deep understanding of audience engagement, Anna specializes in crafting compelling content that builds brand identity and drives results. Her expertise spans media relations, digital campaigns, and content development, making her a valuable asset in any marketing or communications team.