The Bitget incident involving a reported theft of about $352 million has yielded new leads pointing toward something more sensitive.
Cointelegraph reports that CEO Gracy Chen said an initial investigation found that the relevant IP matches VPN choices commonly used by North Korean hacking groups. She also noted that the security team had previously observed patterns similar to those seen in past DPRK attacks, and that Bitget does not believe this was an inside job.
If this attribution continues to hold up, the incident would be more than just a platform security breach. Recovering the funds, performing on-chain tracking, and repairing market trust would all become harder. A more practical observation is that Bitget’s subsequent progress on withdrawal recovery, a complete audit report, and the protection fund’s top-up will directly shape how outsiders interpret this incident. Another observation is that the trust discount affecting BGB and centralized exchanges may persist until the investigation results are finalized. Which do you care more about—withdrawal recovery, or the investigation findings coming out first?
Image 1: Bitget hacker incident suspected to point to North Korean hackers · Key news points
Image source: https://cointelegraph.com/news/bitget-ceo-suspects-north-korea-behind-352m-hack-citing-ip-clues?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Cointelegraph reports that CEO Gracy Chen said an initial investigation found that the relevant IP matches VPN choices commonly used by North Korean hacking groups. She also noted that the security team had previously observed patterns similar to those seen in past DPRK attacks, and that Bitget does not believe this was an inside job.
If this attribution continues to hold up, the incident would be more than just a platform security breach. Recovering the funds, performing on-chain tracking, and repairing market trust would all become harder. A more practical observation is that Bitget’s subsequent progress on withdrawal recovery, a complete audit report, and the protection fund’s top-up will directly shape how outsiders interpret this incident. Another observation is that the trust discount affecting BGB and centralized exchanges may persist until the investigation results are finalized. Which do you care more about—withdrawal recovery, or the investigation findings coming out first?
Image 1: Bitget hacker incident suspected to point to North Korean hackers · Key news points
Image source: https://cointelegraph.com/news/bitget-ceo-suspects-north-korea-behind-352m-hack-citing-ip-clues?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
