"1. Stolen $315 million—For BG, covering the full amount shouldn’t be a big issue. According to Jiayin, the security fund will fully cover it. 2. I immediately looked into BG’s annual profits but couldn’t find specific data. Initially, BG used 20% of its profits to buy back and burn BGB. Later, they switched to a formula of quarterly base burns of 30 million tokens + on-chain gas usage. Based on AI estimates, a conservative figure is $600 million, while $1 billion is a more neutral estimate. 3. Saw some netizens mention that CEO Gracy said during a livestream that hackers impersonated media on Telegram for interviews. Didn’t catch the specific details, but if that’s true, it’s definitely a bug. SlowMist’s Shan Ge wrote that the preliminary assessment suggests hackers infiltrated the critical backend of Bitget’s wallet service, forged transaction information, and manipulated the authorized signature process to transfer the funds out. I’ve personally fallen for phishing like this before—scared me half to death. It was the same tactic of pretending to set up a meeting and asking me to download software. Many people have encountered similar situations. That same night, Teacher LSP had his wallet emptied in the same way, losing $1 million. This hacker really knows how to pick timing—striking at dawn during the Mid-Autumn Festival. Let’s wait for the official incident report to see what really happened." #Crypto #Bitget #Hack #Security #Blockchain