Crypto
Bitget Hit by $352M Hack Linked to North Korea
Crypto exchange Bitget has reported a massive hack worth $351.6 million, which it believes is linked to North Korean hackers.
The breach occurred on September 24 and affected various assets across multiple blockchain networks, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BNB Chain, and Base.
Bitget CEO Gracy Chen stated that the company has reported the incident to relevant authorities and is working with investigators from Mandiant and SlowMist.
The hack has also put Bitget's protection fund under scrutiny, which holds 5,500 Bitcoin valued at over $464 million. A loss equal to the full estimated amount would account for roughly 76% of the fund's value.