Bitget Suffers $351M Crypto Hack, XRP Heaviest Loss
Bitget, a cryptocurrency exchange, has suffered a massive hack resulting in nearly $351 million in stolen crypto assets. The largest amount lost was XRP, valued at over $157.5 million.
The attack occurred on Thursday when hackers breached Bitget's backend wallet system, forged transfer details, and triggered the exchange's normal signing process to make outgoing transfers appear authorized.
Bitget CEO Gracy Chen stated that the security team detected the unauthorized transfers and froze withdrawals, while deposits and trading remained open. She also noted that cold wallets were not compromised and user funds are safe.
The hack is suspected to be linked to North Korea's Lazarus Group, with some IP addresses used in the attack matching VPN patterns tied to the group.