North Korea Tied to $387M Bitget Hack, Pushing Crypto Theft Total to $1B

Chainalysis, a blockchain analytics firm, has linked a $387 million hack of the Bitget exchange to North Korea. According to Chainalysis, this theft pushes North Korea-linked crypto thefts above $1 billion in 2022. The firm notes that onchain records show stolen XRP being swapped through THORChain.

The $387 million hack is one of the largest crypto heists of all time. Chainalysis says the theft highlights the ongoing threat of North Korea's cybercrime activities in the crypto space.

Chainalysis provides data and analytics on blockchain transactions to help organizations understand and mitigate risks. The firm's findings are based on its analysis of onchain data and do not necessarily reflect the views of other experts in the field.