According to CoinMeta, Bitget CEO Gracy Chen stated during today's community live broadcast that after a thorough traceability investigation, it was found that the security incident was caused by hackers exploiting vulnerabilities in third-party security products to steal internal network permission credentials and forge withdrawal commands to the wallet system, thereby bypassing risk verification and executing abnormal transfers. The incident did not involve the leakage of private keys, and cold wallets were not affected. Specific technical details will be disclosed in subsequent security reports. Gracy indicated that the verified losses are within the coverage range of the protection fund, and Bitget plans to replenish the protection fund to the $300 million benchmark within a week. Currently, withdrawals made by BTC have been restored, while withdrawals by ETH and USDT will be gradually restored according to the previously announced schedule.