Bitget Resumes Bitcoin Withdrawals After Hack as Attacker Swaps ETH via THORChain

WHY IT MATTERS

When a crypto exchange gets hacked, it can mean that users' funds are at risk. Think of it like a bank robbery — the exchange holds crypto on behalf of its customers, and if an attacker breaks in, those deposits can be stolen. In this case, the hacker reportedly used THORChain, which is a decentralized tool that lets people swap one cryptocurrency for another across different blockchains without going through a company that checks identities. This makes it harder for investigators to follow the money, similar to how exchanging stolen cash into different currencies at unregulated locations would make it harder for police to track. For newcomers to crypto, this highlights the importance of understanding how exchanges store funds and the risks involved in keeping assets on a centralized platform rather than in a personal wallet.