Bitget Hack Tied to DPRK Threat Actors: $387M Moved Across Four Blockchain Networks

Chainalysis has linked the recent $387 million Bitget hack to threat actors associated with North Korea, specifically the Democratic People's Republic of Korea (DPRK). This revelation highlights ongoing security risks in the cryptocurrency space. The stolen funds were quickly moved across four major blockchain networks: Ethereum, XRP, Zcash, and Tron.

Within a few hours of the hack, 49.7% of the transactions involved Ethereum, while XRP accounted for 40.8%. The rapid movement of funds raises concerns about the effectiveness of current security protocols in the crypto ecosystem.

Investigators tracked tens of millions of dollars in stolen XRP that were funneled into Bitcoin through cross-chain liquidity protocols over a day and a half.