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And here is the most dangerous part of the story. 👀
The attackers hacked a backdoor inside the wallets’ architecture, then falsified transfer data, causing the authorization system to treat them as if they were legitimate transactions.
💰 Losses: $351.6M
But:
🔐 The Private Keys were not compromised
🧊 The cold wallets are still secure
🛑 Unauthorized outflows were contained
💵 The user protection fund exceeds $464M
Most importantly: Bitget temporarily halted withdrawals until the security review is completed.
This type of breach changes the risk angle in crypto:
The problem wasn’t in the key itself… but in the system that decides which transactions deserve authorization.
👌 Tip .. 🌟 Be careful when the news becomes overly positive and optimism spreads and talk of astronomical numbers Then know, they will bring you to the top and start offloading on you.. ........ .......
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