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Bitget Suffers $388 Million Hack Linked to North Korean Hackers

Bitget Suffers $388 Million Hack Linked to North Korean Hackers

First seen 2 Oct 2026, 07:05 UTC • •
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ThreatCluster AI
ThreatCluster •October 2, 2026 at 07:06 UTC
  • •Bitget lost approximately $388 million in a cyberattack linked to North Korean hackers.
  • •The exchange has frozen $1.1 million of the stolen funds and replenished its protection fund.
  • •The attack exploited vulnerabilities in third-party security products, allowing unauthorized access.

Bitget, a cryptocurrency exchange, reported a cyberattack resulting in the theft of approximately $388 million. The attack is suspected to be linked to North Korean hackers, as indicated by CEO Gracy Chen. The breach involved unauthorized transfers from the exchange's hot wallets, which are used for active trading. Following the incident, Bitget froze around $1.1 million of the stolen funds and replenished its user protection fund to over $300 million using its own reserves. Chen noted that the recovery of stolen assets is expected to be limited, citing the challenges faced by exchanges in recovering funds after such hacks. The attack exploited vulnerabilities in two third-party security products, allowing attackers to gain privileged access without stealing private keys. Bitget has suspended crypto withdrawals while it investigates the breach. The incident marks the largest known crypto theft of 2026.

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Timeline

2026-09-30
Investigation reports released
Mandiant and SlowMist reported that attackers compromised two third-party security products before accessing Bitget's wallets.
CNBC
2026-10-01
Bitget hack reported
Bitget disclosed a theft of over $351 million, marking the largest known crypto theft of 2026.
Finance.Yahoo
2026-10-02
CEO comments on recovery efforts
CEO Gracy Chen stated that Bitget is not expecting to recover a significant amount of stolen funds.
CNBC

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Common questions

What is the estimated loss from the hack?
The estimated loss from the Bitget hack is approximately $388 million.
What measures is Bitget taking post-attack?
Bitget has frozen $1.1 million of the stolen funds and replenished its user protection fund to over $300 million.
Are user accounts affected by the breach?
Bitget stated that user account balances were unaffected by the cyberattack.