Bitget Wallet Hack Steals $351.6M: Gracy Chen Points Finger at North Korea

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September 25, 2026

Bitget detected a hack involving $351.6 million in unauthorized transfers from parts of its wallet infrastructure and says its User Protection Fund, which it claims holds more than $464 million, covers the entire loss. Withdrawals remain suspended pending a security review, though deposits and trading continue uninterrupted.

Bitget’s security systems flagged the unauthorized activity within minutes of it starting, and emergency response protocols were activated immediately, according to the exchange’s own incident notice. The exchange has said it will not speculate on the attack vector until its internal investigation is complete.