Bitget Hack Reveals Third-Party Security Flaw Exploited in $388M Cryptocurrency Theft

Bitget revealed that a $388 million cryptocurrency heist was executed by exploiting a zero-day vulnerability in a third-party security product, allowing unauthorized access to internal systems. The attack targeted hot and warm wallets, bypassing risk controls through stolen credentials, while cold wallets remained unaffected.

The attacker who stole about $388 million from the cryptocurrency exchange Bitget gained access through a vulnerability in a third-party security product the exchange used, Bitget said on Monday.

The attacker exploited the flaw to obtain high-level internal credentials and then, on September 24, used them to send fraudulent withdrawal commands to Bitget's wallet system.

Exchanges keep most

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