Bitcoin Could Swing 30% Either Way In The Next Two Months | Gracy Chen

Bitget CEO Gracy Chen said the September 24 hack began with a zero-day vulnerability in a third-party security product, which allowed attackers to obtain high-level credentials and push unauthorized withdrawals totaling about $388 million. She stressed that Bitget’s own private keys were not compromised, that the incident was external rather than an internal misuse of funds, and that the exchange responded quickly by freezing withdrawals, investigating publicly, and covering every user loss.

Chen said Bitget used its user protection fund and company capital to make users whole, then replenished the fund back above $300 million within a week. She argued the main lesson for exchanges is that privileged vendors must be treated as part of the security perimeter, with stricter assessment, monitoring, and contingency planning. She also said industry coordination remains inadequate when it comes to tracing and freezing stolen assets.

On the market, Chen described crypto trading volumes as still below last year’s levels, but said tokenized stocks and other non-crypto products are now a major growth area. She is optimistic about real-world asset tokenization, AI-assisted trading, and the convergence of crypto with traditional finance, while warning that AI will magnify both good and bad trading strategies. Bitget’s next priorities are AI products, a universal exchange model, and a compliant entry into the U.S. market.