Is Bitget hacked?

[blockman]

As you can see, Bitget decided to demonstrate that users deposited a total of 9.7k ETH into the exchange and withdrew 9.0k in the first nine hours of resuming withdrawals. If true, this indicates that users haven't rushed to flee the exchange, but still trust it.
These staticstics can be calculated in different ways, including depending on the exchange's interests, but overall I'm glad the exchange survived...

A day of allowing the ETH withdrawals again and with the numbers that they have shown doesn't speak for the trust of its users. I guess that they're only buying the news and what's happening with it and these are just the casual traders taking the advantage. But it's good to see that those who have lost confidence in them were able to withdraw what's theirs. It might take a while until that trust is recovered by bitget.

[TastyChillySauce00]

Here's what the community thinks about Thorchain unique issue:

That's a load of bollocks about decentralisation. Thorchain was a startup funded by VC-firms, most notably the infamous Multichain. If it was the money of their investors or their own, they would block them in no time, not even having a single thought about the abstract things 99.9% of crypto startups don't believe in (i.e. decentralisation).

it's easy to play cool when it's the money of someone you couldn't care less about but that's hypocritical.

That's exactly the problem, when it's other people's money the protocol is decentralized, when it's their investor money suddenly they have the backdoor, duality of a dex project is a problem. It's fine if they are truly decentralized with no entity controlling it the way bitcoin is decentralized but thorchain is consisted of limited amount of validator that often voted unanimously, hard to say they are decentralized when that's the case.

[Z-tight]

Incidentally, exchanges sometimes help each other out: I think if Bitget hadn't had the bailout fund they used to immediately plug the hole after the hack and needed funding, at least the guys from bybit would have helped them. They bailed them out a year ago with a 40,000 ETH loan during a 1.5 billion ETH hack by those same Korean hackers.

Yeah, a lot of us actually thought that Bybit were going to go insolvent after the large hack of $1.5B last year, it is really hard to recover from such losses. However, they did receive significant support from crypto firms through loans and large deposits, which helped to keep the service afloat and still running up until today.

I don't know if that set the precedent and if Bitget would've received help if they required it, but it is not bad if they look out for one another when negative events like this happen.

[oll]

As you can see, Bitget decided to demonstrate that users deposited a total of 9.7k ETH into the exchange and withdrew 9.0k in the first nine hours of resuming withdrawals. If true, this indicates that users haven't rushed to flee the exchange, but still trust it.
These staticstics can be calculated in different ways, including depending on the exchange's interests, but overall I'm glad the exchange survived...

A day of allowing the ETH withdrawals again and with the numbers that they have shown doesn't speak for the trust of its users. I guess that they're only buying the news and what's happening with it and these are just the casual traders taking the advantage. But it's good to see that those who have lost confidence in them were able to withdraw what's theirs. It might take a while until that trust is recovered by bitget.

Indeed, we can't be certain that these weren't hired traders who deliberately inflated these statistics with their crypto deposits. Because we now clearly see how Bitget is committed to maintaining trust.

Slowmist has studied the hack's timeline in more detail, and this information is now available in a report. While there are no precise definitions, there are more details. It turns out that hacker activity began on August 31st.
In short, the key points are: hackers exploited a zero-day vulnerability in a third-party security product, used employee data, and used specialized software.


There is information that USDT withdrawals are now also available.

[Myleschetty]

There's information that the suspect attackers of Bitget are using Zcash to clean the stolen funds from Bitget with approximately 2,700 ZEC, worth about $3.8 million, has begun transferring to Zcash's Ironwood platform.
It is said that the stolen crypto is being transferred to a shielded pool to make the transaction details to be hidden. In a security incident involving multiple assets and totaling approximately $388 million, Bitget lost about 18,900 ZEC, worth approximately $28.3 million. Meanwhile, the Bitget CEO once stated that she was "not very optimistic" about recovering the stolen funds.
https://x.com/coinbureau/status/2105244855953707476

[blockman]

A day of allowing the ETH withdrawals again and with the numbers that they have shown doesn't speak for the trust of its users. I guess that they're only buying the news and what's happening with it and these are just the casual traders taking the advantage. But it's good to see that those who have lost confidence in them were able to withdraw what's theirs. It might take a while until that trust is recovered by bitget.

Indeed, we can't be certain that these weren't hired traders who deliberately inflated these statistics with their crypto deposits. Because we now clearly see how Bitget is committed to maintaining trust.

They have posted it in their socials that there are a lot of inflows. That isn't a good timing IMO because they want to gain trust of the community by doing that. But let's say that it's a real thing and they have no manipulation in there, then that's a good thing for them. Although we know in the community that whenever something goes like this, many won't be coming back on them anymore. It's a way to make it look trustworthy but, you gotta do what you gotta do with it when you don't want to get into much trouble again after withdrawals are enabled.

[oll]

In general, I found myself trusting the exchanges that survived the hack more than those that didn't. It's like a body recovering from an illness that has successfully overcome it and now has an improved immune system. I personally didn't expect Bitget to handle the incident so well: they immediately announced the issue, kept everyone updated, and strictly specified when new reports would be available. They compensated everyone for losses using pre-arranged funds. They opened withdrawals and announced that the recovery fund was re-established. This certainly isn't a one-tweet refund, like with NEAR, but it's excellent work.