Breaches · 48 days ago
Bitget says suspected North Korean-linked attackers stole as much as $387.5 million after breaking into a backend wallet system and pushing unauthorized transfers through its approval flow. Earlier estimates put the loss at about $351.6 million, and the exchange says it moved into containment and third-party investigation.
The attackers did not need Bitget’s wallet keys. Bitget said the intruders spoofed transaction data inside the internal wallet path, which made the platform’s own authorization process treat the transfers as legitimate. That means the failure sat in the withdrawal-control plane, not in customer accounts or cold storage alone.
For custodians, the lasting exposure is any internal service that can approve withdrawals on behalf of the platform. If that backend is compromised, the exchange itself can become the signer of unauthorized transfers, even when most assets remain in cold wallets and user balances still look normal.
6 sources covering this story
Bitget blames North Korea for $387.5M crypto wallet raid
Familiar fingerprints point to Kim’s regime … to the surprise of nobody
The Record from Recorded Future
Crypto CEO accuses North Korea of stealing $387 million from Bitget platform
The CEO said the company has a User Protection Fund that has over $464 million and those funds will be used to cover the losses.
North Korea Suspected in $351 Million Bitget Crypto Heist
Bitget’s security systems caught the unauthorized transfers on September 24, and some wallet addresses linked to the attacker have been frozen.
North Korean hackers suspected in $351M crypto theft, the largest so far this year | TechCrunch
The $351 million theft from crypto exchange Bitget is the latest in a string of high-profile hacks targeting the crypto sector.
Bitget Says Suspected North Korean Hackers Stole $351.6M After Backend Compromise
Bitget says suspected North Korean actors stole $351.6 million after compromising a backend wallet system and spoofing transaction data.
Hackers steal $351.6 million in Bitget crypto exchange hack
Cryptocurrency exchange Bitget disclosed today that suspected North Korean hackers have stolen $351.6 million from its hot and warm wallets.
Part of the PlainSec briefing for 2026-09-28