Bitget Hack Losses Hit $387M Amid Suspicions of North Korean Involvement

The Bitget cryptocurrency exchange has fallen victim to a significant hack, resulting in losses estimated at $387 million. The incident is believed to have occurred on June 22 and 23, when hackers exploited a vulnerability in Bitget's system.

According to the exchange, the attackers were able to withdraw funds from user accounts without requiring any authentication or approval from the owners. This has led investigators to suspect that the hack was carried out by a sophisticated group of cybercriminals, possibly even state-sponsored.

The North Korean regime is reportedly being eyed as a potential suspect in the hacking operation, with experts pointing to similarities between this incident and previous high-profile attacks attributed to Pyongyang.

Bitget has assured users that it is working closely with law enforcement agencies to investigate the breach and recover any stolen funds. In the meantime, the exchange has suspended withdrawals for all users as a precautionary measure.