North Korean hackers suspected in $351M crypto theft, the largest so far this year
The $351 million theft from crypto exchange Bitget is the latest in a string of high-profile hacks targeting the crypto sector.
North Korean hackers are suspected of stealing over $351 million from cryptocurrency exchange Bitget in a cyberattack that occurred on Thursday. This incident marks the largest known heist of digital currency this year, surpassing a $340 million hack from September in which the hacker returned all but $47 million of the stolen funds.
Bitget disclosed on X (formerly Twitter) that the breach involved unauthorized transfers of crypto from its hot wallets, which are internet-connected and used for active trading. The company subsequently suspended crypto withdrawals on its network. Bitget holds a $464 million user protection fund, which should cover the expenses of the theft.
Gracy Chen, Bitget's CEO, stated that the breach and theft were "highly consistent with known patterns of North Korean hacker organizations." These groups have been linked to crypto thefts and are suspected of targeting open source software to mass-hack victims, with the aim of funding North Korea's nuclear weapons program. According to blockchain intelligence firm TRM Labs, North Korea is believed to be responsible for around three-quarters of all crypto thefts so far in 2026. Chen did not provide a timeline for when Bitget's withdrawals would resume.
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