I can only imagine that this news can be true because, hot wallets being connected to online has it vulnerable risks for the platforms server to be hackable.
Even you as the user of the platform, your private keys are still stored online and controlled by the same authorities whose security server is weak enough to be hacked. Else. I expected this discussion to be backed with link to source of the information and then, we can strictly talk about the event the exchange itself .

Bitget I know is one of the most wide used exchange and had just shown itself of how vulnerable the hot wallets could be.
If hackers don't have you particularly on targets, they can pass the server to get necessary datas of you that can lead them access to your address or privacy just to steal tiu funds.

It appears that the attackers did not compromise any private keys, but rather compromised a third party tool that had access to a backend with high level permissions. Thanks to this access, they forged Bitget’s internal documentation and used digital signatures recognised as valid by Bitget’s internal systems, thereby ordering fund transfers.
The attackers proved to be very clever, as they stole various types of funds and sent them to multiple blockchains simultaneously, effectively slowing down Bitget’s defence system, which would have had to act on several blockchains at the same time.

AI agents are going to keep creating more problems than solution and that's because people would prefer to be scammers than solution finders this days, I think the law on fraudsters and scammers aren't tough enough.

They need to make an example out of people who are caught in hacking and scamming, they need to go hard on them or else people will start to consider becoming a scammer than going to school.

This year is going to be a year to remember, we have few months left and yet series of hacks and theft keeps happening like it's everyday normal thing, there is nothing more scary right now than this.

I should expect that Bitget haven been in the crypto space for this long should be able to have enough firewall in their backend protection, issues concerning hack in a tone of millions of dollars isn't a joke, except their is an in-house compromise. CEXs are increasingly looking suspicious with some of this incident, today the blame is on IA agents, tomorrow it will be on something else, of course I understand hackers are increasingly looking for means to steal, but then why will the CEXs be victims a lot of times, these are companies people have invested lots of their resources in, such news could increase someone's Blood pressure, the CEXs should do more in protecting their assets.

If you keep your funds online at all times, you are exposed to great risk - so the first thing everyone should do is try to be their own bank. Of course, this is not easy and some will say that even then there are risks, but non-custodial, open source and air-gapped wallets are something everyone should strive for.

When it comes to privacy and anonymity, you know best how the most popular OS spies on its users, so the first step is to change the OS (Windows -> Linux), and only then does it make sense to use Tor or VPN.

Online account hacks had always been an issue for years. The way I look at these events,  the hackers are getting smarter each day, taking advantage of the technological improvement, while security has been lagging because most of them are too conservative, believing that if the wheel is not broken, there is no need to fix it.



Does this solve the problem?  As a user, all we can do is to never leave our funds on centralized exchanges, or online financial institutions that hold our funds, and learn how to lay out security to our devices and safeguard our own holdings.


Yeah, aside from not flaunting our wealth online, we must keep quiet and stay low profile at all time.  We never know whether there is someone in our neighborhood who has wicked minds.

It's a pity that no one funds is safe even if stored in a cold wallet if you don't add extra security because I believe that coldcard is a cold wallet and was still compromise. I read that some part of the funds that was hacked from Bitget was from their cold storage. I don't know why these many hacks at this time during the bear market or is this how it normally happen during the bear market? However, it's good to fully go on a hardware wallet and add a strong passphrase to your seed phrase to ensure the safety of your funds or better still multisig wallet. Exchanges should also use multisig for their wallets.

Still thinking about this, will it be 'possible' someday regulators will make strict rules with decentralized platforms will comply with KYC? By force the regulator has the right to do that, but I do not know about this law because it is not part of the experts hehe, just our thinking that the government or regulators always have a way to do this.

The case highlighted the most astonishing hack is... Coldcard, Bitget, Liquid, Duelbits are the biggest and most popular, not to mention Defi projects with expolitions ranging from $1m to $5m... perhaps this news has been missed a lot.

List of crypto sites that have been hacked. [1] https://defillama.com/hacks
The total value of the hacked according to Defillama..
$21.024b
$9.271b... DeFi

This is a pretty big number, sometimes we find it even scarier with a lot of this bad news.

If that happens, the crypto community will find a way to bypass KYC, going underground just like it used to be. Even right now everything already requires KYC, even minting synthetic dollar stablecoin through the redeem & mint channel requires you to KYC but there is always some project that stay decentralized and bypass the KYC compliance.

I also somewhat concerned considering how many billions have gone into state sponsored hacker, it will eventually cause a concern among the regulators and instead of actually bringing solution, they will deal with it the old ways which is enforcing verification and identification through KYC. From the point of view regulators, cracking down on decentralized system could increase tax revenue which is another motivation for them because they can enforce offshore defi protocols to register and get tax from them.