Bitget Hack May Be Linked to North Korean Group: Founder
Bitget's founder, Gracie Chen, confirmed that the exchange suffered a major security breach this September, which market players call one of the largest cryptocurrency hacks this year.
The hack occurred on September 24, when Bitget detected unauthorized transfers from several of its hot wallets. Chen explained that the exchange traced IP addresses whose VPN activity closely matched patterns linked to a known North Korea-affiliated group, describing a DPRK connection as 'very likely.'
The attackers compromised Bitget's internal systems and moved funds directly, but never obtained private keys for any of the exchange's hot, warm, or cold wallets. The affected assets include ETH, XRP, BNB, AVAX, USDT, USDC, and others.
To ease users' fears, Bitget emphasized that its user protection fund exceeds $464 million, which is large enough to fully cover the losses. Chen also reiterated that Bitget's decentralized wallet operates independently of the exchange's infrastructure and was completely unaffected.