Hypernative Analysis: Bitget Had 30 Minutes to Prevent $290 Million Outflow After Attack Detection
Blockchain security firm Hypernative's analysis shows that Bitget had approximately 30 minutes to block the first wave of $87.6 million in outflows after detecting unauthorized wallet transfers at 18:31 UTC on September 24, and about a 45-minute response window before the largest wave of $202.8 million in transfers occurred. Bitget previously stated that its systems immediately initiated emergency protocols upon detecting anomalies, but Hypernative's reconstruction reveals that most of the losses happened after detection, with a total of approximately $290 million flowing out in two main waves, taking only 24 seconds. Hypernative noted that this raises questions about the effectiveness of its security response in containing the exploit and highlighted multiple control measures that could have disrupted the attack, such as requiring each signed transfer to correspond to an independently stored customer withdrawal or approved vault transaction, and automated trigger mechanisms for unusual transaction parameters and transfer speed limits.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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