Bitget CEO Links $352M Hack to North Korean Cybercriminals
- Bitget suffered a security breach resulting in unauthorized transfers totaling $351.6 million.
- CEO Gracy Chen indicated that preliminary findings suggest links to North Korean hackers, based on matching IP addresses from VPN services.
- The breach did not involve user withdrawal request forgery or access to private keys of cold or hot wallets.
- North Korean hackers were previously linked to approximately $2.02 billion in cryptocurrency thefts in the previous year, including a major hack of Bybit.
- Withdrawals from Bitget remain suspended as investigations continue into the compromised systems.
Following the hack, some funds have reportedly been recovered, with ongoing collaboration with blockchain partners for further recovery efforts. The incident highlights ongoing security challenges within the cryptocurrency exchange landscape.
The breach at Bitget underscores significant vulnerabilities, as evidenced by the substantial $351.6 million loss attributed to suspected North Korean involvement.(Source)
