North Korea-Linked Hackers Strike Bitget, Push Crypto Haul Past $1 Billion

A hack of crypto exchange Bitget has pushed North Korea's cryptocurrency haul past $1 billion this year, according to analytics firm Elliptic Enterprises Ltd. The hack, which occurred on Thursday, is estimated to have stolen around $357 million in digital assets.

The attack bears similarities to previous hacks attributed to the Democratic People’s Republic of Korea, including how the stolen crypto was moved and laundered, Elliptic said in a blog post. Some funds were also connected to addresses tied to earlier hacks, including the record-setting $1.5 billion exploit of Bybit last year.

North Korea has emerged as one of the biggest sources of crypto theft over the past decade, with DPRK-linked hackers stealing billions of dollars in digital assets since 2017 and using the proceeds to generate revenue for the sanctions-hit regime, according to Elliptic. The analytics firm has tracked more than 50 security incidents linked to North Korea this year alone, amounting to around $1.2 billion in stolen funds.

Bitget's hack is just one of several major crypto breaches over the past few months, as the industry faces increasingly sophisticated cyber threats. The exchange said that it had detected unauthorized transfers from its wallets and was working with security firms Mandiant and SlowMist on an investigation into the exploit.