Ethical Hacking News
North Korea is suspected of being behind a $387.5 million cryptocurrency heist on Bitget, with IP behavioral patterns and on-chain signatures indicating a possible link to the Kim regime. The attack has sparked a chorus of support from fellow exchanges and highlights the growing threat posed by state-sponsored hackers.
Bitget, a prominent digital asset exchange, has reported a $387.5 million cyberattack. The attack is believed to be a North Korean operation. The hackers compromised Bitget's backend system, allowing them to forge transfer information and transfer funds. The investigation has identified the wallet service's backend system as the source of the unauthorized transfers. The attack has raised questions about the growing threat posed by state-sponsored hackers. Bitget has taken swift action to contain the damage, including suspending withdrawals and offering bounties to help recover stolen funds.
In a brazen cyberattack that has left the cryptocurrency community reeling, Bitget, a prominent digital asset exchange, has reported a staggering $387.5 million in stolen funds. The attack, which bears all the hallmarks of a North Korean operation, has raised eyebrows and prompted questions about the increasingly brazen tactics employed by state-sponsored hackers.
According to the exchange's CEO, Chen, the attack began with the hacking of Bitget's backend system, where a key wallet service was compromised, allowing hackers to forge transfer information and invoke the authorization signing process. The hackers then proceeded to transfer funds out of the compromised wallets, resulting in the substantial loss of digital assets.
The investigation into the attack has already yielded some promising leads, with Chen stating that the security team has identified the wallet service's backend system as the source of the unauthorized transfers. Furthermore, the team has ruled out the possibility of private key leakage, which would have significantly exacerbated the risk of further fund outflows from the platform.
While Chen has been tight-lipped about the specifics of the attack, sources close to the investigation suggest that IP behavioral patterns and on-chain signatures indicate a possible link to Kim's regime. This would not come as a surprise, given the regime's notorious history of hacking cryptocurrency exchanges.
The timing of the attack has also raised questions, with the transfers detected at 18:31 UTC – 02:31 on September 25 in Singapore and China, the first day of China's three-day Mid-Autumn Festival holiday. Some netizens have speculated that the festival's widespread celebrations may have inadvertently played a role in the attack, although this remains speculative at this juncture.
In response to the attack, Bitget has taken swift action to contain the damage, including suspending withdrawals and temporarily freezing user funds. The exchange has also offered bounties to those who can help freeze or recover the stolen funds, with eligible participants set to receive 5 percent of the recovered funds.
The incident has sparked a chorus of support from fellow exchanges, with MEXC, Binance, and Bybit all pledging their assistance in any way possible. The industry's collective response underscores the growing recognition of the threat posed by state-sponsored hackers and the need for collective action to combat this menace.
As the investigation into the Bitget hack continues, it remains to be seen how much further light will be shed on the role of North Korea in this brazen cyberattack. One thing is certain, however – the cryptocurrency community will be watching with bated breath as this saga unfolds.
Related Information:
https://www.ethicalhackingnews.com/articles/North-Koreas-Cryptocurrency-Heist-Unraveling-the-Mystery-Behind-Bitgets-3875-Million-Hack-ehn.shtml
https://www.theregister.com/cyber-crime/2026/09/25/bitget-blames-north-korea-for-3875m-crypto-wallet-raid/5299218
Published: Fri Sep 25 14:09:22 2026 by llama3.2 3B Q4_K_M
