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      Bitget Suffers Major Security Breach, $387.5 Million Stolen and Laundered by North Korea-Linked Actors

      Bitget, a cryptocurrency exchange, experienced a significant security breach on September 24, resulting in the theft of approximately $387.5 million from its hot and warm wallets. This incident marks the largest digital asset theft recorded in 2026. Following the breach, the exchange promptly suspended withdrawals and has since begun to resume them in phases as of September 28.

      Blockchain investigators have traced the stolen funds being laundered through public messaging platforms such as Discord and Telegram, rather than through more clandestine channels. The laundering operation involves the use of bridging services and mixers, including Wasabi, to obscure the transaction trail. Investigators have identified specific usernames linked to the operation, indicating a systematic laundering network potentially connected to North Korean-affiliated groups, including those known as TraderTraitor and Lazarus.

      In response to the breach, Bitget has engaged cybersecurity firms Mandiant and SlowMist to assist in the investigation, which also involves law enforcement agencies. The exchange has assured users that its User Protection Fund, exceeding $464 million, will cover losses incurred from the theft. Additionally, Bitget is offering a 5% bounty, amounting to approximately $19.4 million, for the recovery of the stolen assets. The connection to a previous $292 million exploit of Kelp DAO raises concerns about a coordinated effort behind these significant breaches.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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