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      Bitget Exchange Suffers Major Hack Linked to North Korean Attackers

      Bitget, a cryptocurrency exchange, reported a significant security breach that resulted in the theft of approximately $351.6 million worth of digital assets. The attackers did not compromise the private keys of the exchange's wallets but instead exploited a vulnerability in a backend wallet system to forge transfer details, triggering the exchange's authorized signing process to approve the transactions. The stolen assets included about 102.9 million XRP, valued at roughly $157.5 million, and 31,890 ether, worth around $85.8 million, among other cryptocurrencies.

      Gracy Chen, the CEO of Bitget, indicated that the attack is likely linked to North Korean hackers, citing IP addresses associated with a group known for previous cybercrimes. While the exact methods of the breach are still under investigation, Bitget has completed damage-control measures and claims that no further funds are at risk. The exchange has a protection fund exceeding $465 million, which is intended to cover the losses, and it holds over $1 billion in capital to manage potential withdrawal demands.

      Withdrawals from the exchange remain frozen as Bitget prepares to reopen them, a move that will test the confidence of its customers. Chen has compared Bitget's situation to that of Bybit, another exchange that survived a $1.5 billion hack, asserting that Bitget can similarly withstand this incident. The full incident report is expected to provide more details on the breach and the potential confirmation of the attackers' identities.

      © 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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