Crypto platform Bitget suspects North Korea is responsible for $352 million hack
Bitget said customer balances are safe and its user protection fund, valued at more than $464 million, covers the estimated loss.
- On Thursday, crypto exchange Bitget suffered a system breach exposing approximately $351.6 million in assets, CEO Gracy Chen announced in a social media post.
- Unauthorized transfers targeted Bitget hot wallets while cold wallets remained secure, Chen confirmed; the Liquid Network lost $320 million earlier this month to an alleged hack.
- Arkham Intelligence analyst Emmett Gallic identified unauthorized movements involving ETH, BNB, AVAX, and USDT0 across multiple blockchains; researchers initially flagged unusual activity totaling around $183 million.
- Deposits and trading remain online, but Bitget is "temporarily" pausing withdrawals pending a security review, Chen said; the exchange holds more than $464 million in its user protection fund.
- Market reaction followed the news, with Bitget's native BGB token down 2.9% as of press time; Bitcoin's price fell 0.29% and ETH's price dropped 0.2% over the past 24 hours.
102 Articles
102 Articles
North Korean hackers may be behind a cyberattack that cost crypto exchange Bitget more than $351 million on Thursday, making it the largest known cryptocurrency theft of the year so far, according to TechCrunch.
‘User funds are safe’: Bitget hack drains $351.6m from hot wallets
Crypto exchange Bitget says hackers took about $351.6m from its hot and warm wallets on Thursday. It suspects North Korea. The company said on X that its systems spotted unauthorised transfers at 18:31 UTC. It has suspended withdrawals. Chief executive Gracy Chen later spoke in a livestream on X. Investigators had traced IP addresses to […] This story continues at The Next Web
Who Can Freeze the XRP Stolen in Bitget's $351.6 Million Hack?
The post Who Can Freeze the XRP Stolen in Bitget’s $351.6 Million Hack? appeared first on 24/7 Wall St..Recently, a major security breach at the crypto exchange Bitget resulted in the theft of $351.6 million, with XRP (CRYPTO:XRP) accounting for the largest portion—about 103 million XRP worth roughly $157 million at that time. Unlike the dollar tokens taken during the hack, that XRP cannot be frozen by any organization. Despite this, XRP’s tradi…
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
