Bitget reported a breach of a portion of its hot wallets on September 24 at 18:31 UTC, with approximately $351.6 million in assets affected. The exchange immediately activated emergency protocols and paused withdrawals while reviewing the incident. Bitget’s User Protection Fund, which holds over $464 million, will cover the full loss, ensuring that customer balances remain intact. The attacker compromised a backend system within the wallet infrastructure and spoofed transaction data to bypass Bitget’s authorization process, though a private key compromise has been ruled out. On-chain investigators suggest North Korea-linked Lazarus Group is responsible for the attack.
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