Bitget Reports $351.6M Stolen by Suspected North Korean Hackers

Cryptocurrency exchange Bitget has reported that suspected North Korean threat actors have stolen $351.6 million from its hot and warm wallets. The incident was detected on September 24, 2026, at 18:31 UTC when Bitget's security systems identified unauthorized transfers. These transfers involved a limited number of hot wallets, according to a post shared by Bitget on the social media platform X. The exchange emphasized that its cold wallets and the vast majority of platform assets remained unaffected by the breach. Bitget stated it has initiated a comprehensive investigation into the incident and is working with relevant security agencies and blockchain analysis firms to trace the stolen funds and identify the perpetrators. The company also announced that it is offering a reward for any information that leads to the recovery of the stolen assets and the apprehension of those responsible. This incident highlights the persistent threat posed by state-sponsored hacking groups, particularly those linked to North Korea, which have a documented history of targeting cryptocurrency exchanges to fund illicit activities. The Lazarus Group, a notorious North Korean hacking collective, has been frequently implicated in similar large-scale cryptocurrency heists. These attacks often exploit vulnerabilities in exchange infrastructure, including hot wallet management systems, which are connected to the internet and thus more susceptible to external compromise. While Bitget has assured users that their assets are secure, the breach underscores the ongoing challenges in securing digital assets against sophisticated cyber threats. The exchange has committed to providing further updates as the investigation progresses and has begun the process of reimbursing affected users, although specific details on the reimbursement process have not yet been fully disclosed. The total amount stolen, $351.6 million, represents a significant sum, placing this incident among the larger cryptocurrency heists recorded. The investigation will likely focus on tracking the movement of these funds across various blockchain networks, a process that often involves complex forensic analysis. Bitget's response includes enhancing its security protocols and conducting a thorough review of its internal systems to prevent future occurrences. The company's transparency in reporting the incident and its commitment to user protection are crucial in maintaining confidence within the cryptocurrency community, especially following such a substantial loss. The involvement of suspected North Korean actors adds another layer of complexity, given the geopolitical implications and the challenges in pursuing legal recourse against state-sponsored entities. The exchange's proactive communication on X aims to keep its user base informed during this critical period.