WORLDTECHCybersecurity SINGLE SOURCE
North Korea named as primary suspect in $387 million Bitget crypto hack
First reported Source: Tom's HardwareLast editorial activity
AI illustrationWhat happened
The hackers exploited a backend wallet system that processes wallet transactions, forging transfer approvals that tricked the system into authorizing the fraudulent transactions. She confirmed that cold wallets and private keys remained safe and uncompromised.
Early independent on-chain analysis initially put the total stolen value at $170 million to $183 million, before Bitget announced an initial official value of $351.6 million. The stolen assets include Ether, XRP, USDT, USDC, Avalanche, and BNB across the Ethereum, XRP Ledger, Avalanche, BSC, and Arbitrum networks.
Comprehensive audits revised the final official value to $387.5 million. Bitget temporarily froze user withdrawals, while deposits and trading remained functional.
Sources & evidence
- Tom's Hardware Reporting source
North Korea named as primary suspect in $387 million Bitget crypto hack ↗
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