Bitget Reports a $350 Million Crypto Theft, Reviving Concerns Over Exchange Security

From a record-breaking Ethereum haul to a Tokyo exchange collapse, past attacks show how one breach can reshape the crypto market.

Crypto exchange Bitget said about $350 million in cryptocurrency had been stolen from its platform. The incident has once again drawn attention to the crypto industry’s vulnerability to hacking attacks.

As informed by Reuters

According to researchers at TRM Labs, cryptocurrency worth $2.9 billion was stolen in nearly 150 separate attacks last year. In July 2026, authorities also warned that organized criminal groups were using cryptocurrencies to move funds quickly across borders, bypassing the traditional financial system.

Some of the biggest cryptocurrency thefts since bitcoin emerged in 2008 have involved hacks of exchanges and blockchain projects, causing losses of hundreds of millions and even billions of dollars.

Bybit: $1.5 billion in ether stolen

In February 2025, a record $1.5 billion in ether was stolen from the Bybit exchange. Researchers called it the largest cryptocurrency theft at the time.

The U.S. Federal Bureau of Investigation blamed North Korea for the attack. According to the agency, the stolen funds were quickly converted into other cryptocurrencies and then spread across thousands of addresses on several blockchains. North Korea denied involvement in cryptocurrency heists.