Techflowpost Bitget Suffers $351.6 Million Hack Linked to North Korean Attackers
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- •Bitget lost approximately $351.6 million due to a hack attributed to suspected North Korean attackers.
- •The breach involved spoofing transaction data through a compromised backend system, not a private key compromise.
- •Withdrawals are suspended, but trading and deposits continue as the exchange investigates the incident.
On September 24, 2026, cryptocurrency exchange Bitget reported unauthorized transfers totaling approximately $351.6 million from its hot and warm wallets, attributed to suspected North Korean hackers. The breach was detected at 18:31 UTC and involved the compromise of a critical backend system, allowing attackers to spoof transaction data and trigger the exchange's authorization process. Bitget's cold wallets remained secure, and the incident is covered by its User Protection Fund, which holds over $464 million. CEO Gracy Chen indicated that the attack method aligns with known patterns of North Korean cyber operations. Withdrawals have been temporarily suspended while investigations are ongoing, and some blockchain foundations have already frozen the attackers' wallet addresses. The total loss estimate has since been revised to approximately $387.5 million as further assets were identified during on-chain tracing.
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