GoKawiil
Tech News
Bitget CEO Gracy Chen told CNBC that only about $1.1 million of the nearly $388 million stolen in last week's hack has been frozen, and she does not expect to recover much more, citing low recovery rates from past exchange hacks. Chen said user account balances were unaffected and that Bitget replenished its protection fund, which had been drawn down from over $464 million to below $200 million, using the company's own capital.
Bitget CEO Gracy Chen said a September 24 breach that drained $387.5 million from the exchange showed signs of North Korean state-sponsored hackers, pointing to VPN infrastructure previously linked to such groups. Attackers exploited a backend wallet system, forging transfer approvals to authorize fraudulent withdrawals, while cold wallets and private keys stayed secure. Bitget froze withdrawals temporarily and said its $464 million User Protection Fund would cover the entire loss.
Bitget has reopened Bitcoin withdrawals after suspending them following a breach it says North Korean hackers carried out last week, stealing $387.5 million across multiple chains and tokens. The exchange plans to phase back withdrawals for ETH, USDT and other assets by early October, saying it has fixed the exploited vulnerability and that user balances remain unaffected thanks to its Protection Fund.
Bitget said suspected North Korean hackers stole roughly $351.6 million from its hot and warm wallets after unauthorized transfers were flagged Thursday evening. The exchange has paused withdrawals and enlisted Mandiant and SlowMist to investigate, while saying its cold wallets, self-custodial wallet product, and customer balances remain unaffected.
Governor Maura Healey signed an executive order requiring data centers with peak demand above 25 megawatts to supply their own clean power meeting state renewable energy standards, or fund new generation or pay into a ratepayer protection fund. The order also discourages communities from signing non-disclosure agreements with developers and pauses a recently enacted data center sales tax exemption while regulators implement the new rules.