Bitget Says Attacker Exploited Third-Party Security Product Flaw to Steal $388M
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Bitget has disclosed that the attacker behind the theft of approximately $388 million gained access by exploiting a vulnerability in a third-party security product used by the exchange. According to the company's statement on Monday, the flaw was leveraged to obtain high-level internal credentials.
On September 24, the attacker used those credentials to send fraudulent withdrawal commands to Bitget's wallet system. The exchange confirmed that it keeps most of its assets in cold storage, though the specifics of the ongoing investigation remain limited.
Key points:
- $388 million stolen from Bitget
- Entry point: vulnerability in a third-party security product
- Attacker obtained high-level internal credentials
- Fraudulent withdrawal commands sent on September 24
- Bitget states most assets are held in cold storage
Source: The Hacker News
Has your organization reviewed the security posture of third-party tools that hold privileged access to critical systems?
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