Bitget Hacked for $387M, North Korea Suspected

A recent hacking incident has left Bitget reeling, with an estimated $387 million stolen from the exchange. Chainalysis linked the theft to North Korea, citing the involvement of DPRK-attributed threat actors. The attack occurred on September 24, 2026, with 23 transfers made within three hours, totaling $387 million. The funds were laundered across four chains, using a cross-chain liquidity protocol to obtain Bitcoin.

The attackers manipulated the transaction data shown to the authorization process, causing Bitget to approve the transfers. This is different from a private-key theft, which would have compromised the exchange's signing keys. Bitget's User Protection Fund, worth $464 million, may cover the loss, but no recovered funds have been confirmed.

TRM Labs estimated the loss at $351.6 million, based on funds moved from Bitget's hot and warm wallets across seven blockchains. Chainalysis attributed the theft to North Korea-linked actors, with Bitget CEO Gracy Chen also pointing to the involvement of a North Korean hacking group. TRM, however, was more cautious, finding on-chain links to previously identified North Korean thefts but not definitively attributing the attack.