Bitget Hacked for $351.6M, Suspends Withdrawals Amid North Korean Link

Crypto exchange Bitget has temporarily suspended customer withdrawals after it was hacked for approximately $351.6 million. The company's CEO, Gracy Chen, said user funds were safe and that the loss was covered by Bitget's own funds.

Chen stated that investigators identified internet protocol addresses linked to VPN services previously used by a North Korean hacking group, which resembles earlier operations attributed to the country.

The exchange's security team found that the attacker breached a critical backend wallet system and used it to spoof transfer information. Chen said private key compromise has been ruled out, and withdrawals remain suspended while technical teams repair and reinforce affected systems.