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Bitget hack losses top $387M 👨‍💻

The exchange's CEO pointed the finger at North Korean hackers, while assuring customers that account balances wouldn't be affected.

Author

Stephen Graves
September 25, 2026

đź“ť What you need to know

Losses from yesterday’s hack of crypto exchange Bitget have climbed to $387.5 million, likely making it the biggest crypto hack of the year. According to a post-mortem shared by the exchange’s CEO Grady Chen, attackers got into a backend system in the exchange's wallet infrastructure and spoofed transaction data, so Bitget's own authorization process approved the payouts as routine.

Chen added that a $464 million protection fund covers losses from the hack, meaning that customer balances will be unaffected—though withdrawals remain frozen until tomorrow.

The CEO noted that that telltale signs including IP addresses and on-chain patterns match those of North Korean hacking groups—which, if true, would add to a $2.1 billion tally of ill-gotten gains.

Bitget Hack Losses Climb to $387M: Here’s What Happened, and Why North Korea Is a Suspect

Hackers stole roughly $387.5 million in crypto from Bitget yesterday in what is believed to be the biggest crypto hack of the year.

Bitcoin (BTC)September 25, 2026
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