hack or exploit

XRP Suffers Biggest Hit as Bitget Hack Drains Over 102M XRP

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Bitget first said on Sept. 24 that unauthorized transfers hit parts of its hot and warm wallets, while cold wallets stayed unaffected and withdrawals were paused. It later revised the incident to about $387.5 million to include additional Zcash and TRON activity, and then began restoring withdrawals in stages after saying the underlying issue had been patched. [13590][12890][14593]

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Key claims & sources

✓
On Sept. 24, Bitget detected unauthorized transfers from parts of its hot- and warm-wallet infrastructure and suspended withdrawals while deposits and trading stayed open.
XRP Was Largest Asset in $351.6 Million Bitget Crypto Drain
✓
Bitget initially estimated the loss at about $351.6 million, then raised it to about $387.5 million after adding transfers tied to Zcash and TRON.
Bitget Raises Hack Estimate To $387.5 Million As Token Accounting Widens
✓
The exchange said its cold wallets were not affected and that its user protection fund covered the loss.
Bitget Confirms $351.6M Hot Wallet Breach And Pauses Withdrawals
✓
The exchange said the revised figure reflected fuller accounting rather than additional unauthorized transfers.
Bitget Raises Breach Estimate to $387.5 Million as IPO Plans Continue
✓
Bitget later said it had patched the vulnerability and started restoring withdrawals in phases, beginning with Bitcoin and then Ether and USDt.
Bitget Raises Hack Estimate To $387.5M And Sets Withdrawal Restart Plan
✓
After the breach, THORChain declined Bitget’s request to block addresses tied to the exploit, and swaps from the hacker-linked wallets continued into bitcoin.
THORChain Rejects Bitget’s Request to Block Hacker Wallets, Says It ‘Doesn’t…
✓
Bitget said the attacker obtained internal credentials through a third-party flaw and used forged withdrawal commands to bypass risk checks without taking private keys.
Crypto Exchange Bitget Says Hacker Exploited Vulnerabilities From Third-Party…

What it means

Users of the exchange notice the change first through withdrawals, because Bitget paused them after the Sept. 24 transfers and later brought them back in stages. Traders and customers also saw the exchange keep deposits and trading available while it worked through the incident.

Before this, the wallets were presented as an area protected by internal controls; after the incident, Bitget said the relevant vulnerability had been identified and patched, and that withdrawals would return in phases. What stayed the same is that the exchange still described cold wallets as unaffected and said its protection fund covered the loss.

Market reaction i

Bitget TokenBGB it is the asset of the company or protocol in the event
first headline
+1.0% 2 h before
+0.5% 4 h after
$1.99price at publication
12data points

The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.

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 25 12:13
Coinpedia scoop
Breaks the event: $351.6M and $157.5M
+4 h 27 m
Sep 25 16:40
BeInCrypto adds
Adds $387.5M and $387M, with quotes
+4 h 43 m
Sep 25 16:55
The Defiant context
Its angle: expanding, include, omitted; with quotes
+4 h 56 m
Sep 25 17:08
Decrypt context
Its angle: fingerprints, pyongyang, requests; with quotes
+5 h 4 m
Sep 25 17:17
Coinpedia echo
No new facts: approvals, suggested, bigger; with quotes
+5 h 17 m
Sep 25 17:30
Finance Magnates adds
Adds $464M and $300M, with quotes
+7 h 47 m
Sep 25 20:00
The Coin Republic echo
No new facts: sufficient, discovery, concluded; with quotes
+7 h 56 m
Sep 25 20:08
+8 h 29 m
Sep 25 20:42
Crypto Economy adds
Sharpens the figure: $352M
+11 h 3 m
Sep 25 23:16
+16 h 17 m
Sep 26 04:30
NewsBTC echo
No new facts: investigates, enforcement, technology; with quotes
+20 h 54 m
Sep 26 09:06
Crypto Briefing echo
No new facts: cybersecurity, underscore, resilience
+22 h 16 m
Sep 26 10:28
crypto.news echo
No new facts: offering, valued
+23 h 20 m
Sep 26 11:33
Coinpedia adds
Brings into the story: BTC, ETH
+1 d
Sep 26 12:56
CoinDesk adds
Adds $83M and $75M, with quotes
+1 d 4 h
Sep 26 17:10
CR Cryptopolitan adds
Adds $10.7M, with quotes
+1 d 12 h
Sep 27 00:30
NewsBTC echo
No new facts: participating, substantial, underlying; with quotes
+1 d 21 h
Sep 27 10:06
Coinpedia echo
No new facts: sparked, promise, allow; with quotes
+1 d 22 h
Sep 27 11:00
Coinpedia echo
No new facts: intercepted, ability, cashing
+2 d
Sep 27 12:23
BeInCrypto adds
Adds $1.2B, with quotes
+2 d 2 h
Sep 27 14:45
The Defiant echo
No new facts: continued, invoking, demand
+2 d 18 h
Sep 28 07:11
crypto.news echo
No new facts: opening, sparks
+2 d 19 h
Sep 28 08:10
Cryptonews.com echo
No new facts: redistribution, distribution, respectively
+2 d 20 h
Sep 28 08:31
The Block echo
No new facts: starts; with quotes
+2 d 22 h
Sep 28 10:17
Unchained echo
No new facts: decentralized, comparison, validators; with quotes
+2 d 22 h
Sep 28 10:39
Coinspeaker echo
No new facts: recoverability, transparency, supercharge
+2 d 22 h
Sep 28 11:05
Cointelegraph echo
No new facts: wednesday, restores, resumes
+2 d 23 h
Sep 28 11:45
Coinpedia echo
No new facts: including, operator, bridges; with quotes
+2 d 23 h
Sep 28 12:08
+3 d
Sep 28 12:13
+3 d
Sep 28 12:24
BeInCrypto echo
No new facts: complaining, screenshots, launderers; with quotes
+3 d
Sep 28 12:39
CR Cryptopolitan adds
Sharpens the figure: $10.6M, with quotes
+3 d 1 h
Sep 28 13:16
U.Today echo
No new facts: explaining, detailed, provided
+3 d 1 h
Sep 28 13:37
crypto.news echo
No new facts: protecting, positions, control; with quotes
+3 d 2 h
Sep 28 14:15
Crypto Economy echo
No new facts: operational, restoration, explained
+3 d 2 h
Sep 28 14:46
Cointelegraph echo
No new facts: investigators, disclose, assess
+3 d 2 h
Sep 28 14:53
Crypto Economy echo
No new facts: similarities, attribution, unconfirmed; with quotes
+3 d 2 h
Sep 28 15:10
Crypto Economy echo
No new facts: responding, hrigtuba4q, blacklist; with quotes
+3 d 3 h
Sep 28 15:30
+3 d 3 h
Sep 28 15:34
Crypto Briefing echo
No new facts: revealed, reveals
+3 d 4 h
Sep 28 16:19
+3 d 7 h
Sep 28 19:25
+3 d 8 h
Sep 28 20:59
The Daily Hodl echo
No new facts: functionality, restructured, compromise; with quotes
+3 d 10 h
Sep 28 22:17
CP CryptoPotato echo
No new facts: compromising, researchers, censorship; with quotes
+3 d 12 h
Sep 29 01:11
BitPinas echo
Picks up what was published, with no new facts
+3 d 13 h
Sep 29 01:17
Cointelegraph adds
Adds $50M; brings into the story: NEAR, with quotes
+3 d 17 h
Sep 29 05:43
crypto.news echo
No new facts: against, policy, bid; with quotes
+3 d 17 h
Sep 29 06:00
AMBCrypto echo
No new facts: happening, hopping, entered
+3 d 18 h
Sep 29 06:23
CoinDesk echo
No new facts: cryptocurrency, uncensorable, subsequently; with quotes
+4 d
Sep 29 12:49
+4 d
Sep 29 13:00
Crypto Economy echo
No new facts: alexauroradev, explanation, intensified; with quotes
+4 d 4 h
Sep 29 16:18
Cointelegraph echo
No new facts: percentage, reference, noting; with quotes
+4 d 6 h
Sep 29 18:46
Crypto Economy adds
Sharpens the figure: $80M, with quotes
+4 d 8 h
Sep 29 20:42
Crypto Briefing echo
No new facts: highlights, prompting, reopens
+4 d 9 h
Sep 29 21:14
Bitcoin Magazine adds
Sharpens the figure: $334M, with quotes
+4 d 22 h
Sep 30 10:37
crypto.news echo
No new facts: restored, brings, set

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