North Korea Tied to $388M Crypto Heist on Bitget Exchange

North Korean hackers have allegedly stolen $388 million from Bitget, a cryptocurrency exchange that handles over $1 billion in daily trading volume. The attack occurred on Thursday and was initially reported as a loss of $350 million by CEO Gracy Chen.

However, after further investigation, Chen updated the figure to reflect a more complete accounting of transfers during the incident. She stated that 'based on IP behavior patterns and on-chain analysis, the attack method in this incident is highly consistent with known patterns of North Korean hacker organizations.'

The stolen funds mostly consisted of Ethereum, Tron, and USDT stablecoin, with no Bitcoin being taken. A tracker shows that over $28.8 million in BTC has been moved by the attacker.

Experts have noted that hackers from North Korea have become more sophisticated and efficient since last year, using artificial intelligence tools to carry out their attacks.