Bitget CEO reveals details of the $380 million hack for the first time during a livestream Bitget CEO Gracy Chen @GracyBitget shared during a livestream that the attackers exploited a zero-day vulnerability in a third-party security product to steal internal network credentials. They then impersonated valid identities to access the internal management system, gaining entry to the wallet-related backend and directly injecting fake withdrawal commands. The wallet system treated these as normal withdrawals, allowing the attackers to bypass withdrawal risk controls and transfer funds from the hot and warm wallets. After each transaction, the attackers also deleted traces of their actions, making root cause analysis more challenging. She stated that the platform's private keys were not compromised, and internal foul play has been preliminarily ruled out.