Live briefing · CoinDesk
Bitget's $352 million hack happened via spoofed transfers, not private keys, CEO Gracy Chen says
What CoinDesk reports, why it matters and what remains unconfirmed.
MarketsBy Omkar Godbole at CoinDesk
The story in one view
- Reported by
- CoinDesk
- Coverage lens
- Security and resilience
- Published
- Evidence status
- Cross-source reports linked
What CoinDesk reports
Bitget lost $351.6 million after attackers compromised a wallet backend, spoofed transaction data, Chen said on X.
The immediate significance
The report describes direct security exposure for users, funds or software. The immediate significance is the potential harm; the confirmed scale and any protective action require technical or primary evidence beyond the publisher summary.
Decrypt and CoinDesk have also published a related report, providing another attributed account to compare without treating repetition as proof.
What remains unknown
- The publisher summary does not contain the complete victim, transaction or technical evidence.
- The report does not establish the final loss or exposure, or whether remediation is complete.
- No matched primary document independently supporting the central claim is linked to this page.
Developing Across Sources
How the story developed
Decrypt and CoinDesk are reporting related developments. Reports are shown in publication order; separate coverage is not independent confirmation.
Decrypt Bitget Hacked as $350 Million Vanishes From Crypto Exchange Wallets
A newly created wallet drained hot and cold reserves labeled as belonging to Bitget across multiple blockchains in under an hour.
Decrypt Federal Reserve Unveils Stablecoin Rules on Reserves and Capital
The central bank opened two proposals for comment under the GENIUS Act, requiring issuers it supervises to back tokens fully with safe assets and creating an application process for banks seeking to issue stablecoins.
CoinDesk Crypto exchange Bitget says $352 million affected in a hack, claims user funds are 'safe'
Bitget CEO Gracy Chen announced the hack shortly after independent researchers flagged unusual wallet movements.
CoinDesk U.S. Federal Reserve moves on proposals to implement GENIUS Act for stablecoins
The Fed proposed rules on putting last year's GENIUS Act into place with regulations, including those governing stablecoin yield programs.
CoinDeskCurrent briefing Bitget's $352 million hack happened via spoofed transfers, not private keys, CEO Gracy Chen says
Bitget lost $351.6 million after attackers compromised a wallet backend, spoofed transaction data, Chen said on X.
CoinDesk Circle and Tether step in to freeze hacker wallet after massive Bitget crypto heist
The stablecoin issuer blacklisted a wallet holding about $318,000 in USDT and USDC. Most of the stolen funds sit in ether, which can't be frozen.
Decrypt Bitget Hack Losses Climb to $387M: Here’s What Happened, and Why North Korea Is a Suspect
An attacker faked internal transfer requests to drain $387.5 million from Bitget's hot and warm wallets, and the exchange's CEO says the fingerprints look like Pyongyang's.
Decrypt Circle and Tether Freeze Stablecoins Tied to Bitget Hack—But Most Funds Slip Away
The two stablecoin issuers blacklisted a wallet labeled "Bitget Exploiter 8," locking about $318,000 in USDC and USDT—but the attacker swapped most funds into unfreezable ETH before they could act.
Decrypt US Prosecutors Want $84.2 Million From a Bank Tied to Tether
Federal prosecutors are targeting a Montana payments firm and a Caribbean bank accused of moving money without a license.
Related Articles And Podcast
Further reporting and analysis on this story.
Podcast14 min
Bitget Reveals $352M Backend Breach | Bitcoin ETFs Turn Positive for 2026 | Ethena Adds Tokenized Stocks | Daily Crypto Roundup.
Bitget says attackers stole $351.6 million by compromising a wallet backend and spoofing transaction data—not by taking private keys. Stablecoin issuers…
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