Bitget Stolen: North Korean Hackers Swipe $388M

North Korean hackers have stolen $388 million from Bitget crypto exchange, according to its CEO Gracy Chen. The amount is higher than the initial report of over $350 million that had been moved.

The attack on Thursday was flagged by security firms as unauthorized transactions from Bitget's hot wallets before the company froze withdrawals.

Bitget is the sixth-largest crypto exchange, processing over $1 billion in trading volume per day. The stolen funds mostly included ethereum, tron, and USDT stablecoin, but also some Bitcoin, with over $28.8 million of it in the attackers' possession.

The CEO stated that 'based on IP behavior patterns and on-chain analysis, the attack method in this incident is highly consistent with known patterns of North Korean hacker organizations.'