Bitget Loses $351.6M in Hack as North Korea Suspected.
Crypto exchange Bitget suffered a major security breach on Thursday, with approximately $351.6 million in crypto moved from parts of its hot and warm wallet infrastructure. Bitget says its cold wallets and private keys were not compromised, while withdrawals were temporarily suspended.
CEO Gracy Chen said a preliminary investigation found IP addresses matching VPN services associated with a North Korean hacking group, with the attack pattern resembling previous DPRK-linked operations. Blockchain investigators have also identified links to wallets used in earlier North Korean thefts, although TRM Labs has not yet made a definitive attribution.
Bitget later said the affected loss falls within its $464 million+ User Protection Fund, while Mandiant and SlowMist are assisting with the investigation. Some stolen funds have already been traced across multiple chains and through cross-chain services.
$BTC $BGB #Macro Insights# #BTC Price Analysis# #Bitget
Crypto exchange Bitget suffered a major security breach on Thursday, with approximately $351.6 million in crypto moved from parts of its hot and warm wallet infrastructure. Bitget says its cold wallets and private keys were not compromised, while withdrawals were temporarily suspended.
CEO Gracy Chen said a preliminary investigation found IP addresses matching VPN services associated with a North Korean hacking group, with the attack pattern resembling previous DPRK-linked operations. Blockchain investigators have also identified links to wallets used in earlier North Korean thefts, although TRM Labs has not yet made a definitive attribution.
Bitget later said the affected loss falls within its $464 million+ User Protection Fund, while Mandiant and SlowMist are assisting with the investigation. Some stolen funds have already been traced across multiple chains and through cross-chain services.
$BTC $BGB #Macro Insights# #BTC Price Analysis# #Bitget
