Bitget Suffers $351M Hack, Blames North Korea

Bitget, a major cryptocurrency exchange, has been hit by a massive security breach that saw $351.6 million stolen from its hot and warm wallet infrastructure.

The incident occurred on Thursday, with Bitget's CEO Gracy Chen pointing to North Korean hackers as the likely culprits behind the attack.

Citing preliminary findings, Chen noted that IP addresses used in the breach matched those of a VPN service associated with a North Korean group. The exchange's security investigators believe this may be connected to previous attacks attributed to North Korea.

In contrast to some past hacks, Bitget's hackers did not attempt to forge user withdrawal requests or obtain access to the exchange's private keys for cold wallets.