Bitget Suspects North Korean Hackers Behind $352 Million Breach
· Technology · CNBC, Bloomberg
Crypto exchange Bitget reports that unauthorized transfers totaling approximately $351.6 million were siphoned from its hot and warm wallet infrastructure. CEO Gracy Chen stated that investigators identified internet protocol addresses linked to VPN services previously used by a North Korean hacking group. The breach involved 19 unauthorized transfers across the Ethereum, XRP Ledger, Avalanche, BNB Smart Chain, and Arbitrum networks. While the exchange has suspended withdrawals to reinforce its systems, it confirmed that cold wallets remain secure and customer balances are covered by its $464 million User Protection Fund.
Why it matters
The incident highlights ongoing security risks for digital asset exchanges and the potential for large-scale financial losses tied to state-sponsored cyber actors.
Read the original report — CNBC
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