Bitget wallet theft reportedly totals $387.5 million, with North Korea suspected
The Register reports that Bitget blamed North Korea for the theft. In its initial September 24 notice, the exchange said withdrawals were paused and its protection fund covered the estimated loss.
TLDR
The Register reported on September 25, 2026, that Bitget blamed North Korea for a $387.5 million crypto theft. A day earlier, CEO Gracy Chen had estimated that approximately $351.6 million in assets were affected.
In that initial notice, Chen said the breach affected parts of Bitget's hot and warm wallet systems, while cold wallets remained secure. She said withdrawals were paused pending a security review, but deposits and trading remained operational. Chen also said customer balances were accurate and the initial estimated loss fell within the coverage of Bitget's User Protection Fund, which held more than $464 million.
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