Bitget Says Attacker Exploited Third-Party Security Product Flaw to Steal $388M

Cryptocurrency exchange Bitget suffered a major security breach resulting in the theft of approximately $388 million. The attacker exploited a vulnerability in a third-party security product used by Bitget. By leveraging this flaw, the attacker obtained high-level internal credentials. On September 24, the stolen credentials were used to issue fraudulent withdrawal commands to Bitget's wallet system. The incident highlights the risks of supply chain and third-party security dependencies in financial platforms. Bitget publicly disclosed the attack vector on Monday following the incident. The breach underscores vulnerabilities in how exchanges protect hot wallet systems and manage privileged access credentials.