hack or exploit

Bitget CEO Gracy Chen Says Scammers Posed as an Investment Firm to Target Her After the Hack

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After Bitget’s roughly $387.5 million breach, Gracy Chen said impostors later contacted her while posing as an investment firm’s team, and Bitget said withdrawals were restored on Oct. 2. Separate follow-up coverage added that the exchange’s protection fund reached $309 million, while investigators and security firms described tracing work, recovery limits, and the attack path across multiple chains.

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Key claims & sources

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Gracy Chen said impostors posing as an investment firm’s team contacted her on Sept. 28.
Bitget CEO Says Scammers Targeted Her After $387.5 Million Hack
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That contact came four days after attackers stole about $387.5 million from Bitget.
Bitget CEO Says Scammers Targeted Her After $387.5 Million Hack
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SlowMist said the malicious activity linked to the theft dated back to Aug. 31, when a zero-day vulnerability was exploited.
SlowMist Ties Bitget’s $388M Hack to Aug 31 Zero-Day Exploit
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SlowMist said the attacker used a custom tool to spoof risk-control parameters and carry out fraudulent withdrawals from Bitget hot wallets.
SlowMist Ties Bitget’s $388M Hack to Aug 31 Zero-Day Exploit
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Bitget said its protection fund, created in 2022, absorbed the financial impact of the incident.
Bitget ‘gradually back to usual’ as protection fund reaches $309M
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Bitget said the protection fund reached $309 million.
Bitget ‘gradually back to usual’ as protection fund reaches $309M
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Chainalysis said it used in-house AI and custom automation to trace the stolen funds across multiple networks and protocols.
Bitget Hack: How AI Helped in Tracing $387 Million Across Chains
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Bitget completed the restoration of withdrawals on Oct. 2.
Crypto Scam News: Bitget CEO Says Most Stolen Funds May Not Be Recovered
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Chainalysis said its AI work cut more than 20 hours of manual bridge reconciliation to under 10 minutes during the investigation.
Chainalysis AI traces $387M Bitget hack in under 10 minutes

What it means

For day-to-day operations, the reporting shows a shift in what the exchange and investigators could do after the breach: SlowMist described a zero-day exploit and fraudulent withdrawals from hot wallets, while Chainalysis said it traced the funds across multiple networks and protocols with in-house AI and custom automation. The practical change was in how the incident was being handled and mapped, not in any announced return of the stolen assets themselves.

Market reaction i

Bitget TokenBGB it is the asset of the company or protocol in the event

Bitget Token barely moved in the 4 hours after the first headline, after a flat 2 hours before.

$1.98 price at the headline
0.0% 2 h before
0.0% 4 h after
+0.5% 12 h after
First headline

48 prices, one every 30 minutes

Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Sep 29 17:52
+4 h 13 m
Sep 29 22:05
Crypto Briefing context
Its angle: underscores, capitalized, skepticism
+21 h 29 m
Sep 30 15:20
Crypto Economy adds
Sharpens the figure: $388M, with quotes
+22 h 36 m
Sep 30 16:28
+2 d 21 h
Oct 2 15:10
Coinpedia adds
Sharpens the figure: $387M
+2 d 21 h
Oct 2 15:24
The Coin Republic adds
Adds $1.1M, with quotes
+3 d
Oct 2 18:34
Crypto Economy adds
Adds $464M and $200M, with quotes
+3 d 18 h
Oct 3 12:00
crypto.news echo
No new facts: investigating, traces, built; with quotes
+3 d 23 h
Oct 3 17:01
+3 d 23 h
Oct 3 17:17
+6 d
Oct 5 18:37
Protos context
Its angle: information, infiltrated, collective; with quotes
+7 d
Oct 6 18:47
crypto.news context
Its angle: transaction, permissions, understand
+7 d 4 h
Oct 6 22:30
BeInCrypto adds
Sharpens the figure: $1.1M, with quotes

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