SeychellesHacker moves $83 million of XRP Ripple cannot freeze.
Bitget lost $351.6 million and froze withdrawals on a platform it says has 120 million users.
Attackers compromised a backend system, spoofed transaction data and triggered authorization, Bitget’s preliminary investigation found, ruling out stolen private keys.
CEO Gracy Chen says the exchange’s own funds cover the loss and customers face no shortfall.
Another $75 million still sits in wallets that only a receiving exchange can restrict.
How each outlet framed it
drawn from 90+ reports worldwide · These outlets told this story differently.
- Reuters
- RT
- foregrounds AI-assisted cyberattacks as growing threat, details hot/warm wallet compromise vs secure cold storage
- Economic Times
- The Straits Times
- Daily Post Nigeria
- distinguishes self-custodial Bitget Wallet from compromised Exchange hot/warm wallets, clarifies backend spoofing attack vector
- CoinDesk
- maps XRP Ledger's unfreezing technical constraint: $75M in accounts Ripple cannot freeze, recovery depends on exchange detection
Sources: Reuters, RT, Economic Times, The Straits Times, Daily Post Nigeria, CoinDesk