Bitget Loses $352 Million In Massive Crypto Hack. North Korea Is Now Under Suspicion

Crypto exchange Bitget lost about $351.6 million in digital assets after attackers breached part of its wallet infrastructure, prompting the company to suspend withdrawals while investigators examine evidence that may point to North Korean hackers.

The exchange detected unauthorized transfers at 18:31 UTC on Thursday and activated its emergency response procedures within minutes, according to an official Bitget security notice. The breach affected portions of its hot and warm wallet infrastructure, while the company's cold wallets remained secure.

Bitget CEO Gracy Chen said in a livestream on X that investigators had identified internet protocol addresses connected to VPN services previously associated with a North Korean hacking group. She said elements of the attack also resembled patterns seen in earlier operations linked to North Korea.

The finding remains preliminary, and Bitget has not said that North Korea's involvement has been independently established. The company has notified law enforcement agencies and on-chain security firms, while the specific method used by the attacker to initially enter its systems remains under investigation.

Chen said investigators had determined that the attacker compromised a critical backend system in Bitget's wallet infrastructure, spoofed transfer information and then triggered the platform's authorization-signing process. She said a compromise of private keys had been ruled out and that the breach had been contained.