⚡️Bitget confirmed a $352 million hack, the largest breach at the exchange this year
The attack was detected on September 24 - the attacker compromised a backend system within the wallet infrastructure, spoofed transaction data, and triggered the authorization process that moved funds out. Only hot and warm wallets across five networks were affected, cold wallets remained fully secure.
CEO Gracy Chen linked the attack to a North Korean group: investigators found IP addresses tied to VPN services previously used by that hacking team. Analysts have already traced $183.8 million spread across 13 wallets on six networks, with one address buying ETH at up to a 5% premium just to complete the swaps faster.
Bitget suspended withdrawals pending a security review, deposits and trading continue as normal. The losses are expected to be covered by the exchange's User Protection Fund, which holds more than $464 million.
The attack was detected on September 24 - the attacker compromised a backend system within the wallet infrastructure, spoofed transaction data, and triggered the authorization process that moved funds out. Only hot and warm wallets across five networks were affected, cold wallets remained fully secure.
CEO Gracy Chen linked the attack to a North Korean group: investigators found IP addresses tied to VPN services previously used by that hacking team. Analysts have already traced $183.8 million spread across 13 wallets on six networks, with one address buying ETH at up to a 5% premium just to complete the swaps faster.
Bitget suspended withdrawals pending a security review, deposits and trading continue as normal. The losses are expected to be covered by the exchange's User Protection Fund, which holds more than $464 million.