$351M Crypto Heist Rocks Bitget Exchange Amid Growing Security Concerns

Crypto exchange platform Bitget has announced that hackers stole $351.6 million in assets, making it the largest theft of cryptoassets recorded since the beginning of the year.

The company suspects the attack was linked to North Korea and claims user funds are safe, stating that 'unauthorized transfers' were detected on Thursday evening.

Bitget said losses related to the incident would be covered by its protection fund, which holds more than $464 million. Chief executive Gracy Chen stated in a post on X that the company holds over $1 billion in its own assets.