North Korean Hackers Steal €332.8M from Global Crypto Exchange Bitget

North Korean hackers are suspected of stealing €332.8 million in cryptocurrency from Bitget, one of the largest global crypto exchanges. The attack occurred on Thursday when unauthorized transfers were made from some of its hot and warm wallets.

The exchange said its cold wallets, which have more limited online access, were not affected by the breach. However, the attackers gained access to an internal system and entered false transaction information that made the fraudulent transfers appear legitimate to Bitget's approval system.

Bitget CEO Gracy Chen stated in a livestream that the IP addresses used by the hackers matched those of a North Korean group, making a connection 'very likely.' The company has notified law enforcement and is working with security firms to investigate the attack and trace the stolen funds.

The incident marks one of the largest cryptocurrency thefts this year, according to TRM Labs. Stolen assets are often used to fund nuclear weapons and missiles in North Korea.