Bitget's security team has preliminarily confirmed that hackers infiltrated its wallet service's critical backend system, fabricating transfer information and triggering the authorized signature process to move funds out. However, the possibility of private key leakage has been ruled out. All damage control measures have been implemented, and there is no risk of further fund loss. The specific method of intrusion is still under investigation.

Bitget CEO Gracy Chen stated during a livestream that while the attacker's identity cannot be 100% confirmed, the incident is highly likely related to North Korean hackers, as some IP addresses closely match VPN patterns commonly used by a North Korean hacking group. She pointed out that Bitget's protection fund (over $465 million) and proprietary capital (over $1 billion) are sufficient to cover the over $300 million loss, emphasizing that Bitget is "definitely not another FTX" and is fully capable of handling potential withdrawal runs. She also mentioned that Bitget's retail business scale is comparable to Bybit's, and if Bybit can withstand a $1.5 billion loss, Bitget can absorb a loss of over $300 million.