Bitget says $352M hack used spoofed transfers, not private keys

Bitget's $351.6 million hack happened after attackers compromised a wallet backend and spoofed transaction data — not by stealing private keys — CEO Gracy Chen said on X. Chen earlier said user funds are safe and cold wallets remain secure, while withdrawals were temporarily suspended as the exchange assessed the incident.

• Independent researchers flagged unusual wallet movements before the exchange confirmed the breach.
• The scope of affected wallets and any timeline for restoring withdrawals have not been disclosed.
• The attack adds Bitget to a growing list of exchange security incidents this cycle.