Chainalysis Identifies North Korea in $387M Bitget Hack
- Chainalysis attributed the $387 million Bitget hack to North Korea-linked actors, pushing their crypto theft total past $1 billion in 2026.
- Funds were moved within three hours across four networks, including Ethereum (49.7%) and XRP (40.8%).
- Chainalysis used in-house AI to trace the funds quickly, reducing over 20 hours of work to under ten minutes.
- The stolen XRP was converted through cross-chain liquidity protocols into Bitcoin, which is now under surveillance.
- Circle and Tether froze approximately $318,000 in stablecoins linked to the hack.
Chainalysis confirmed that North Korean hackers were responsible for a significant cryptocurrency theft from Bitget, utilizing advanced AI tools to trace and manage the stolen funds efficiently across multiple blockchains.
This attribution supports earlier assessments by Bitget’s CEO and Elliptic, highlighting ongoing concerns about North Korea’s involvement in major crypto heists this year.
