North Korea-Linked Hackers Steal $351.6 Million from Bitget Exchange

Cryptocurrency exchange Bitget has been hit by a massive security breach, with suspected North Korea-linked hackers making off with $351.6 million from hot and warm wallets.

The attack occurred on September 24 at 18:31 UTC, when Bitget's security systems detected unauthorized transfers involving a limited number of hot wallets. The company's emergency response procedures were immediately activated, and a full investigation was launched in collaboration with Mandiant and SlowMist.

According to Gracy Chen, Bitget CEO, the attacker compromised a critical backend system within the wallet infrastructure, used it to spoof transaction data, and bypassed authorization. The attack method is highly consistent with known patterns of North Korean hacker organizations, according to Chen.

The security breach affected ETH, XRP, BNB, AVAX, USDT, and USDC across several blockchains. Bitget has contacted the foundations of all affected chains, and some have frozen hacker wallet addresses. The company's User Protection Fund will cover the impact of this incident on the platform.