Bitget
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42
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Search complete. 121 mentions across 42 episodes found for "Bitget".
Sep 30, 2026
Claire AirdHOST
The company is now telling its customers it is safe to reconnect their servers to the internet.
Claire AirdHOST
Hackers breached cryptocurrency platform Bitget last week by exploiting a zero-day in a third-party security product.
Claire AirdHOST
The attackers extracted valid admin credentials from the security device and then pivoted to the platform's internal network.
Claire AirdHOST
Bitget says the hackers injected fraudulent withdrawal commands and stole $388 million in crypto.
Claire AirdHOST
Hackers have used a zero-day to breach Belgian internet service provider Bellenet and steal emails.
Claire AirdHOST
The stolen messages included emails sent to Bellenet, plus one customer between July 22 and September 25.
DrewHOST
Now, let's look at the top news here.
DrewHOST
Bitget hackers moved $4 million into Zcash private pool, making funds harder to trace.
DrewHOST
So we see a little bit of movement into Zcash's ecosystem from these wallets linked to the Bitget nearly $400 million hack.
DrewHOST
They moved about $4 million into Zcash into the crypto private payment system on Wednesday, making the stolen funds harder to follow.
DrewHOST
Other top news, and actually, you know what? I may as well hop on over to the DC data hub because I know that we have a good rundown on the market pulse, but there's a lot of big news coming out, uh, in terms of PCE inflation data, right? So core PCE is much, much cooler than expected.
Alex PopovicHOST
You're kind of at the whims then of the platform, whether or not they can help you or not.
Alex PopovicHOST
A great example of that actually would be BitGet, the crypto exchange that was just hacked.
Alex PopovicHOST
So a whole bunch of withdrawals and off-ramping was happening there.
Alex PopovicHOST
A bunch of money was sent off that was unauthorized.
Alex PopovicHOST
I thought it was great.
Alex PopovicHOST
especially in a world where we've seen some nightmarishly bad crisis communications come from people.
Alex PopovicHOST
We've told this story before, and this is not the same as a billion-plus dollar company like BitGet or a big exchange, but there was a DeFi protocol that got exploited a while ago, and the team's response was to tweet in all caps with no context emergency, exclamation point, exclamation point, get your money out of here now.
Alex PopovicHOST
Like something like that.
speaker_0HOST
Governments need not do anything except get out of the way.
speaker_0HOST
Second, BitGet's top executive Gracie Chen says she is not optimistic about recovering the funds lost in the exchange's security breach.
speaker_0HOST
The breach cost roughly $388 million dollars.
speaker_0HOST
Chen points to the 2025 Bybit hack as her reference point.
Tyler DHOST
Yes.
Tyler DHOST
So I guess some of the funds they took from BitGet were Zcash and they put them in an orchard.
FaroukHOST
Nice.
FaroukHOST
It's very bullish security.
GreenyHOST
Mm.
CraigHOST
Bitgets, Bybits.
CraigHOST
Man, I could go through a list on my, um, authenticator.
CraigHOST
I've got heaps, like, from '21, so I've got a lot of exchanges I use to get...
Natalie BrunellHOST
As you hopefully know, the Bitcoin network has never been breached, but the companies built around it are a different story, and last week added two more chapters.
Natalie BrunellHOST
Bitget is a large overseas exchange with 120 million users.
Natalie BrunellHOST
It's a foreign competitor to Coinbase, and on Thursday, $387 million walked out of its wallets in hours, the biggest exchange hack of the year.
Natalie BrunellHOST
Nobody stole a key.
Natalie BrunellHOST
But the headline said River sues Blockstream, except that Blockstream, Adam Back's company behind the Liquid network, says that entity left its control in 2024 but kept the name under license.
Natalie BrunellHOST
Same name, very different company, and it's really been a brutal month for Blockstream and the brand, with the Liquid hackers holding nearly 600 Bitcoin.
Natalie BrunellHOST
The pattern, the ColdCard hack earlier this summer, $320 million from Liquid, 387 million from Bitget, and in every case, again, Bitcoin itself, untouched.
Natalie BrunellHOST
What breaks sometimes is the businesses built around the network.
Austin CampbellHOST
So let's start with one of the big news items over the weekend.
Austin CampbellHOST
So Bitget got hacked.
Austin CampbellHOST
On September 24th, attackers took roughly 388 million from Bitget, largely the contents of the hot wallets, not by stealing their private keys, but by spoofing transaction data, so Bitget's own approval process signed off on the withdrawals.
Austin CampbellHOST
The hack reopened some of the neutrality debate around crypto after Thorchain refused to block the hackers' addresses, while stolen Eth kept swapping into Bitcoin through the protocol.
Austin CampbellHOST
So one, the loss is about 388 million.
Austin CampbellHOST
No private keys were accessed according to Gracie Chen, CEO of Bitget, and the attacker, quote, "Used it to spoof transaction data and triggered our own authorization process to move funds out." She says it's, quote, "Consistent with techniques used by DPRK-linked hacker groups, and it is currently the largest reported crypto theft of 2026." Bitget's $464 million user protection fund covers the losses.
Austin CampbellHOST
BTC withdrawals reopened today.
Austin CampbellHOST
Eth is on the 29th, Tether is on the 30th, and everything else is on 10/2.
Tim StenovecHOST
I want to shift gears a little bit.
Tim StenovecHOST
You mentioned BitGet, and we just spoke with Gracie Chen a few moments ago.
Tim StenovecHOST
OKEx launching a customer protection program providing up to 500,000 euros of coverage against account takeovers and third-party attacks.
Tim StenovecHOST
The $387 million that BitGet lost to North Korean hackers, that's been well documented.
Tim StenovecHOST
We just spoke to Gracie about that.
Tim StenovecHOST
The protection though that you're offering covers individual account compromises, not exchange level hacks.
Tim StenovecHOST
So if North Korea can drain nearly 400 million dollars from exchanges hot wallets, what good is 500,000 euros of individual account protection?
Andrew CuomoGUEST
Yeah.
Scarlett FuHOST
I want to shift gears a little bit.
Scarlett FuHOST
You mentioned BitGet, and we just spoke with Gracie Chen a few moments ago.
Scarlett FuHOST
OKEx launching a customer protection program providing up to 500,000 euros of coverage against account takeovers and third-party attacks.
Scarlett FuHOST
The $387 million that BitGet lost to North Korean hackers, that's been well documented.
Scarlett FuHOST
We just spoke to Gracie about that.
Scarlett FuHOST
The protection, though, that you're offering covers individual account compromises, not exchange level hacks.
Scarlett FuHOST
So if North Korea can drain nearly $400 million from exchanges hot wallets, what good is 500,000 euros of individual account protection?
Andrew CuomoGUEST
Yeah.
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