Bitget Suspects North Korean Hackers Behind $352 Million Security Breach
Bitget, a crypto platform, suspects North Korean hackers may be behind a $352 million security breach. The exchange's CEO, Gracy Chen, cited preliminary evidence from an ongoing investigation. Investigators identified internet protocol addresses linked to VPN services previously used by a North Korean hacking group.
The pattern of the attack resembled earlier operations attributed to the country, according to Chen. She stated that the specific intrusion method used to enter Bitget's systems remains under technical investigation. The breach affected about $351.6 million in digital assets across various blockchains, including Ethereum, XRP Ledger, Avalanche, BNB Smart Chain, and Arbitrum.
Bitget detected unauthorized transfers from its hot and warm wallet infrastructure on Thursday afternoon stateside. Affected assets included ether, XRP, USDT, USDC, Avalanche, and BNB. The exchange's security team found that the attacker breached a critical backend wallet system, used it to spoof transfer information, and triggered Bitget's authorization-signing process.
Chen stated that 'private key compromise has been ruled out.' Withdrawals remain suspended while technical teams repair and reinforce the affected systems. Customer balances are accurate, and the loss is fully covered by Bitget's User Protection Fund, which holds over $464 million.