North Korean hackers suspected in $351M crypto theft
Cryptocurrency exchange Bitget lost over $351 million in a cyberattack on Thursday. The theft is suspected to be carried out by North Korean hackers and is the largest crypto heist of the year.
North Korean hacker groups are suspected of stealing over $351 million in cryptocurrency from the servers of exchange Bitget during a cyberattack on Thursday. This incident marks the largest known digital currency heist this year.
In a series of posts on X, Bitget stated that the breach affected its internet-connected "hot wallets," which are used for active trading. The exchange has suspended cryptocurrency withdrawals on its network. However, the company assured that its user protection fund of $464 million is sufficient to cover all costs associated with the theft.
Bitget CEO Gracy Chen noted that the breach is "highly consistent with known patterns of North Korean hacker organizations." Such groups have been previously linked to crypto thefts, believed to be funding the country's nuclear weapons program. Blockchain intelligence firm TRM Labs reports that North Korea is responsible for approximately three-quarters of the value of all crypto thefts to date in 2026.
Chen did not provide a timeline for when Bitget's withdrawal services are expected to resume.