Bitget blames North Korea for $387.5M crypto wallet raid
Bitget says North Korean hackers stole about $387.5 million via its wallet backend.
Bitget CEO Gracy Chen said attackers stole about $387.5 million in digital assets after first estimating $351.6 million, adding later-identified Zcash and TRON losses. Arkham reported roughly $350 million taken, including about $228 million in 18 minutes, with $153 million of XRP, $66.2 million of ETH, $34.8 million of USDT, $12.9 million of USDC, and $12.8 million of Tether Gold among the assets. Chen said hackers breached the wallet-service backend, forged transfer data, and invoked authorization signing, while ruling out private-key leakage; cold wallets and customer balances were unaffected and withdrawals were paused. IP patterns and on-chain signatures are being linked to North Korea. Mandiant and SlowMist are investigating, and Bitget set aside 5% of the stolen amount as a recovery bounty.