Bitget detected a hack involving $351.6 million in unauthorized transfers from its wallet infrastructure on September 24 at 18:31 UTC. CEO Gracy Chen stated that IP addresses matched VPN services associated with a North Korean hacking group, describing this involvement as « very likely » while stopping short of confirmation pending the investigation’s completion. Bitget’s User Protection Fund, exceeding $464 million, covers the entire loss according to the platform. Withdrawals remain suspended pending the security review’s conclusion, while deposits and trading continue uninterrupted. The attackers compromised a backend system connected to the wallet infrastructure and manipulated transaction data to trigger the exchange’s own authorization process to move the funds.
Source: Read the original article
