Bitget Hack: $351M Stolen as Exchange Links Attack to North Korea

Bitget, a leading cryptocurrency exchange platform, suffered a major security breach in September that saw unauthorized transfers of around $351 million from its hot wallets. According to Gracie Chen, Bitget's CEO, the hack may be linked to North Korea, with IP addresses showing patterns similar to those used by known North Korean-affiliated groups.

The attack compromised the exchange's internal systems, allowing hackers to move funds directly without obtaining private keys for any of Bitget's hot, warm, or cold wallets. The affected assets included ETH, XRP, BNB, AVAX, USDT, and USDC.

Bitingest emphasized that its user protection fund exceeds $464 million and is large enough to cover the losses. The exchange also stated that it has contacted the foundations of every affected blockchain and is working with authorities to investigate the incident.