According to CoinMeta, Bitget CEO Gracy Chen indicates that after the hacker attack, scammers impersonated an investment company in an attempt to target her. Chen revealed in the program that the attackers approached her using social engineering tactics while she was communicating with external partners. She mentioned that the scammers formed a team, with each member playing a different role, attempting to engage in genuine conversations with Bitget, but after confirming with her known partners, it was discovered that these contacts were fraudulent. Chen also stated that the attackers exploited an unknown vulnerability in the security products of an external supplier to send fake withdrawal instructions to Bitget's wallet. Bitget estimated the loss at $387.5 million and stated that they would release a report on the incident.