$352M Bitget Hack May Be Linked to North Korean Cybercrime

Bitget's $352M hack may be linked to North Korea, according to preliminary investigations by the exchange. CEO Gracy Chen pointed out IP addresses associated with VPN services used by a Democratic People's Republic of Korea (DPRK) hacking group during a live Q&A on X.

Chen stated that investigators found no evidence of an inside job and that hackers moved funds directly, without attempting to forge user withdrawal requests. They did not obtain Bitget's cold-wallet or hot-and-warm-wallet private keys.

Somewhat reassuringly, Chen said some stolen funds had been recovered, but the exact amount was not disclosed. The exchange continues to work with partners on recovery efforts.