Bitget Exchange Reports Hack, Freezes Hacker Addresses, Assures User Funds Safety
Bitget CEO Gracy Chen confirmed a security incident, assuring that user funds are secure and fully backed 1:1. Affected assets include ETH, XRP, BNB, AVAX, USDT, and USDC across multiple blockchain networks, with some hacker wallet addresses having been frozen.
Bitget CEO Gracy Chen confirmed a security incident but assured user funds are 1:1 backed and secure.
Affected assets include ETH, XRP, BNB, AVAX, USDT, USDC across multiple blockchain networks.
Some hacker wallet addresses have been frozen; the attack is attributed to North Korean hacker groups.
Bitget Wallet was unaffected, operating on independent infrastructure.
Story
The crypto exchange Bitget has reported a security incident, though user funds are assured to be safe. Bitget CEO Gracy Chen confirmed that user funds are fully backed 1:1 and all on-chain cold wallets remained secure. The incident involved various assets such as ETH, XRP, BNB, AVAX, USDT, and USDC, spanning multiple blockchain networks including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC, and Base. Bitget promptly contacted the affected chain foundations, leading to the freezing of some hacker wallet addresses. The company attributes the attack to patterns consistent with known North Korean hacker groups and is cooperating with global investigations. It is important to note that Bitget Wallet, operating on independent infrastructure, was unaffected by this incident. The platform also maintains a protection fund exceeding $464 million and its own assets over $1 billion to underpin user fund security. The resumption of withdrawals is aimed for as soon as possible, with a specific timeframe to be announced once confirmed. This incident highlights the ongoing security challenges in the crypto space and the necessity for robust protective mechanisms.
Issue context
Crypto markets demonstrate resilience while processing a series of significant developments. A security incident at the Bitget exchange has drawn attention to the need for robust security measures, with Bitget assuring user funds are safe and freezing hacker addresses. Concurrently, regulatory changes in Germany could abolish the crypto holding period, potentially having far-reaching implications for investment behavior. This issue also highlights the growing volume of tokenized stocks on the Base blockchain and sustained institutional inflows into XRP ETFs, underscoring increasing interest in regulated crypto products.
Current market developments present a mix of security concerns and growing institutional adoption. Pay attention to the impact of regulatory changes and the evolution of tokenized assets. Volatility remains a factor, especially for assets testing key technical levels. Your risk tolerance and investment horizon should guide your decisions.
Market pulse
ETH
$2.7K
-0.44% 24h / +8.08% 7d
Fear & Greed
71
Greed
BTC Funding
+0.0036%
20 perp markets · OI $61.6B
BTC Open Interest
$61.6B
Top venue CoinW (Futures) · 24h vol $92.2B · basis +0.0000%
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This story is part of the Biturai Market Brief and is for informational purposes only. No investment advice.