cointelegraph.com Bybit and Bitget Collaborate After $1.4 Billion Hack Linked to Lazarus Group
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- •Bybit repaid a 40,000 ETH loan from Bitget after a $1.4 billion hack.
- •The hack is linked to North Korea's Lazarus Group, impacting investor confidence.
- •Bybit is assisting Bitget in tracking and recovering stolen funds.
On February 21, 2026, Bybit suffered a $1.4 billion hack attributed to North Korea's Lazarus Group. In response, Bybit borrowed 40,000 ETH from Bitget to facilitate customer withdrawals and repaid the loan within three days. The attack resulted in significant withdrawals, with over $5 billion taken out by investors shortly after the breach. Bybit has since replenished its reserves through loans and deposits, recovering nearly 88% of the stolen funds. Following the incident, Bybit's CEO announced plans to assist Bitget in tracing and recovering stolen assets, highlighting ongoing collaboration between the two exchanges. Bitget reported unauthorized transfers totaling $351.6 million, also suspected to be linked to North Korean hackers. The situation remains under investigation as both exchanges work to enhance security measures and asset recovery efforts.
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Bitget Suffers $351.6 Million Hack Linked to North Korean Attackers 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…