Cyber Security

Binance lost about $6.3 billion on the evening of October 29. Most of the asset left in around 20 minutes, across ten blockchains and it was recorded as the biggest crypto theft so far, about four times the Bybit hack in February 2025.

GMO Internet reported the sale, the same day Bitget's hot wallets were drained. The first unauthorized transfers took place on Sept. 25 in Tokyo, meaning the sale appears to have been reported before the theft began. Bitget was already working through the deal when the breach happened.

Ledger has asked retailers and distributors across Indonesia, Singapore, Thailand, Philippines, Vietnam, Malaysia and Hong Kong to stop selling its devices and clear stock from shelves. The October 14 request, posted on X, widens a freeze in sales that began with one reseller, CryptoBilis.

The attackers didn't steal private keys from Bitget’s wallets. They got into a backend system, manipulated the transaction data and then used that altered information to get Bitget’s own authorization process to approve the transfers as legitimate.