Crypto: $351 million stolen from the Bitget exchange
The biggest crypto theft of the year. The exchange has suspended withdrawals and suspects North Korean hackers. It promises to repay users through its protection fund.
- $351.6 million stolen from Bitget, the biggest crypto theft of 2026.
- No keys stolen: an internal server was compromised and transfers were forged.
- Withdrawals suspended; a $464 million fund is meant to cover the losses.
The Bitget exchange has announced the theft of $351.6 million from its internet-connected wallets. Its security systems spotted several unauthorised transfers from a small number of wallets on the evening of Thursday 24 September.
How the hackers did it
According to Bitget’s chief executive, Gracy Chen, the attackers did not steal the private keys: they compromised an internal server, forged transaction data and triggered the transfer authorisation process themselves. She considers the operation highly consistent with the known methods of North Korean hackers. According to the analytics firm TRM Labs, North Korea is behind about three quarters of crypto thefts in 2026.
What about customers?
Withdrawals are suspended during the investigation, conducted with the authorities and specialists including Mandiant and SlowMist; deposits and trading remain possible. Bitget says its user protection fund, about 5,500 bitcoins (some $464 million), will cover all losses. Its self-custody wallet, Bitget Wallet, is not affected.
- North Korean hackers suspected in $351M crypto theft, the largest so far this year, TechCrunch.
- Hackers steal $351.6 million in Bitget crypto exchange hack, BleepingComputer.
Spotted an error? Write to infos@novotech.blog. Corrections are flagged at the end of the article.
