North Korea Accused in Bitget Hack, Launderers Exposed by Open Communication
Bitget, a major cryptocurrency exchange, suffered a massive hack on September 24, 2026, resulting in losses of $387.5 million. The attackers exploited Bitget's internal approval system to steal funds, rather than breaking into individual wallets.
The breach affected assets across multiple blockchains, including Ethereum and other EVM networks, the XRP Ledger, Zcash, TRON, and others. CEO Gracy Chen attributed the hack to North Korea, stating it was 'very likely' behind the attack.
Blockchain investigator ZachXBT discovered that the launderers behind the stolen funds made a critical mistake: they openly requested customer support in Discord servers and Telegram channels tied to the services used to move funds. This exposed their involvement in the laundering process.
The suspects, identified as Chinese money launderers working on behalf of North Korean attackers, connected to other hacks and patterns in North Korean cybercrime. One account, 'lolo,' was linked to a $292 million Kelp DAO exploit in April and the same laundering infrastructure used in the Bitget breach.