Crypto platform Bitget suspects North Korea is responsible for $352 million hack
Bitget said customer balances are safe and its user protection fund covers the loss as investigators probe possible North Korean involvement.
- On Thursday, crypto exchange Bitget suffered a system breach exposing approximately $351.6 million in assets, CEO Gracy Chen announced in a social media post.
- Unauthorized transfers targeted Bitget hot wallets while cold wallets remained secure, Chen confirmed; the Liquid Network lost $320 million earlier this month to an alleged hack.
- Arkham Intelligence analyst Emmett Gallic identified unauthorized movements involving ETH, BNB, AVAX, and USDT0 across multiple blockchains; researchers initially flagged unusual activity totaling around $183 million.
- Deposits and trading remain online, but Bitget is "temporarily" pausing withdrawals pending a security review, Chen said; the exchange holds more than $464 million in its user protection fund.
- Market reaction followed the news, with Bitget's native BGB token down 2.9% as of press time; Bitcoin's price fell 0.29% and ETH's price dropped 0.2% over the past 24 hours.
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125 Articles
Bitget increased the value of assets transferred to invader-controlled addresses to $387.5 million in a cyber attack identified on Wednesday (24). The initial estimate was $351.6 million. According to the cryptoactive broker, the review occurred after a more complete clearance of transactions and included assets in the Zcash and Tron blockchains that had not entered the initial calculation. The company states that the change does not reflect new…
Bitget activated its protection fund to cover losses, while withdrawals remain suspended.
Bitget Hack Pushes North Korean Crypto Haul Past $1 Billion
A $357 million hack of crypto exchange Bitget on Thursday was likely carried out by North Korea-linked hackers, pushing the nation-state’s haul from digital-asset thefts above $1 billion this year, according to analytics firm Elliptic Enterprises Ltd.
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