Bitget Resumes Withdrawals After North Korean Hackers Steal $387.5 Million

Bitget, a cryptocurrency exchange, has resumed Bitcoin withdrawals after a suspected North Korean hacking group stole over $387.5 million from its systems last week.

The breach occurred on Thursday, when Bitget's security systems flagged multiple unauthorized transfers from a limited number of crypto wallets. The attackers had breached a critical backend system within the exchange's wallet infrastructure and used it to spoof transaction data, triggering the exchange's authorization process to move funds out of compromised hot/warm wallets.

According to Bitget CEO Gracy Chen, the incident involved multiple assets across several blockchain chains, including Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC, and Base. The stolen funds were transferred to attacker-controlled addresses, with an estimated $387.5 million reported so far.

Bitget has since addressed the security vulnerability exploited in the incident and is working on restoring withdrawal services for other supported assets and networks. The exchange will resume withdrawals for ETH (Ethereum) on September 29 at 8:00 UTC, USDT (Ethereum, BSC, Solana, Tron) on September 30 at 8:00 UTC, and other tokens/Fiat/P2P assets starting October 2 at 8:00 UTC.