Bitget Hack

The cluster covers a major cryptocurrency theft involving Bitget, with reports attributing the operation to hackers linked to North Korea. The attackers are believed to have targeted the exchange’s hot wallets, which are internet-connected wallets used to facilitate trading and withdrawals. Estimates of the stolen amount range from about $351.6 million to $388 million, reflecting differences in valuation, the assets counted, or the stage of the investigation. Regardless of the precise figure, the incident is described as one of the largest crypto thefts of the year.

Bitget and security researchers are examining transaction records and wallet movements to determine how the compromise occurred and where the funds went. North Korean cyber units have a long record of targeting cryptocurrency businesses, exchanges, decentralized finance projects, and individual holders to generate revenue for the state, often moving stolen assets through chains of wallets and laundering services. The attribution in this case remains characterized as likely or suspected rather than definitively proven, as investigators generally rely on patterns in malware, infrastructure, laundering behavior, and links to earlier campaigns. The reports therefore center on both the scale of the loss and the broader security challenge facing crypto platforms, where large pools of digital assets can be exposed through a single wallet or operational failure.