Suspected North Korean Hackers Steal $351 Million From Bitget in Largest Crypto Theft This Year
Suspected North Korean hackers stole more than $351 million from cryptocurrency exchange Bitget on Thursday, the largest digital currency heist this year. Bitget suspended withdrawals and said its $464 million user protection fund should cover the loss.
The attack is the latest in an ongoing spate of high-profile hacks targeting the crypto sector, TechCrunch reported. It eclipsed a $340 million hack in September that ended with the hacker returning all but $47 million of the stolen funds.
In a series of posts on X on Thursday and Friday, Bitget said the breach involved the unauthorized transfer of crypto from its hot wallets, which are connected to the internet and designed to be used for active trading. The exchange has since suspended crypto withdrawals on its network. Bitget said it holds $464 million in its user protection fund, which should cover the costs of the theft.
Bitget chief executive Gracy Chen said the breach and heist was “highly consistent with known patterns of North Korean hacker organizations.” Such collectives have been linked to crypto thefts and have been suspected of targeting open-source software to mass-hack victims with the aim of funding the country’s nuclear weapons program.
According to blockchain intelligence firm TRM Labs, North Korea is behind around three-quarters of all crypto thefts during 2026 to date.
Chen did not say when Bitget’s withdrawals would open again.