Theft of Over $351 Million from Bitget Attributed to North Korean Actors

Cryptocurrency exchange Bitget detected unauthorized transfers on September 24 from a limited number of hot and warm wallets, with a reported value of at least $351.6 million. Some sources initially estimated the losses at up to $387 million, but the figure disclosed directly by the company is lower. Bitget suspects the involvement of actors linked to North Korea and has tasked Mandiant and SlowMist with analyzing the backend compromise and tracking the stolen funds. Withdrawals were temporarily suspended, while deposits and trading continued to operate; cold wallets, user balances, and most assets reportedly remained protected. The company stated that its protection fund, holding more than $464 million, will cover the losses without passing them on to customers. The incident is significant both because of its financial scale and because it confirms the persistent ability of North Korean groups to target centralized infrastructure and rapidly turn technical access into large-scale funding.

Source: Security Affairs