North Korean hackers suspected in $351 million Bitget heist, the year's largest known crypto theft

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More than $351 million is believed to have been taken from crypto exchange Bitget in what has emerged as 2026's largest known digital-asset theft, underscoring the risks exchanges face when online reserves are compromised.

Here's what to know

In X posts cited by TechCrunch, Bitget said that crypto was transferred out of the exchange's hot wallets without authorization. Those wallets are kept online for active trading, and the company said it paused crypto withdrawals across its network as it responds. By value, the loss is the biggest known crypto hack of 2026.

The exchange said its $464 million user protection fund should be sufficient to absorb the losses from the breach. Bitget has not provided a timeline for reopening withdrawals.

Gracy Chen, Bitget's chief executive, said the attack appears to match patterns associated with North Korean hacking groups.

According to TechCrunch, the incident surpassed a separate $340 million hack in September in which all but $47 million of the stolen funds were later returned.

More background

Crypto exchanges remain attractive targets because they can hold enormous sums in assets that can be moved quickly across borders. Hot wallets are especially useful for trading, but their internet connection can also make them a more exposed point of attack than offline storage.