ITG

Crypto exchange Bitget has reportedly been hacked for roughly $388 million, with investigators assessing that North Korea is likely responsible for the theft. The attack would rank among the largest crypto heists attributed to North Korean state-linked groups, which are estimated to have stolen billions in digital assets to fund the regime. Security researchers and crypto industry observers are tracking the movement of the stolen funds.

Roughly $183 million has reportedly disappeared from a Bitget exchange wallet, prompting fears among users that the crypto exchange may have been hacked. Details on the cause, the assets involved, and whether user funds are affected remain limited, and traders are closely watching for an official explanation from Bitget as concerns spread across the crypto community.

Crypto exchange Bitget has suffered a major security breach in which roughly $387.5 million was stolen. Attackers exploited zero-day vulnerabilities in two third-party security appliances to access hot and warm wallets holding ETH, XRP, BNB, AVAX, USDT and USDC. Security researchers are urging other exchanges to suspend similar systems and monitor vendor advisories for patches.

The chief executive of crypto exchange Bitget says there is little chance of recovering the roughly $388 million stolen in a breach of the platform. The admission comes despite efforts to trace and freeze the stolen assets, and it underlines how difficult recovery remains in major crypto thefts, where funds are typically laundered quickly through mixers and cross-chain transfers.

Bitget says a recent cyberattack that resulted in the theft of assets worth $387.5 million was made possible by a vulnerability in a third-party security product. Representatives of the cryptocurrency exchange have disclosed new details about the incident, shifting responsibility away from its own systems and toward an external vendor. The scale of the loss is drawing attention across the crypto industry, with debate expected over vendor security and exchange safeguards.

Crypto exchange Bitget has been hacked through a zero-day vulnerability in third-party security products, according to a report by BleepingComputer. The breach reportedly did not stem from Bitget's own systems but from external security software the exchange relied on. Details on stolen funds, the vendor involved, and the number of affected users have not yet been confirmed.