Cryptocurrency exchange Bitget reported a security breach involving unauthorized transfers from its hot wallets. The company initially estimated losses at $351.6 million, but later revised the figure to over $387 million. This adjustment accounts for additional assets on the Zcash and TRON networks that were not included in the initial assessment.
The exchange suspended withdrawals to conduct a security review and implement remediation measures. Bitget stated that the incident is covered by its User Protection Fund, which holds more than $464 million. The company plans to announce a withdrawal restoration schedule on Saturday, September 26, at 4 a.m. UTC.
CEO Gracy Chen indicated that the company suspects a North Korean hacking group is responsible for the attack. This conclusion is based on the identification of IP addresses linked to VPN services previously used by the group, as well as similarities to past incidents attributed to the same actors. The investigation remains ongoing.
According to data from TRM Labs, this breach is the largest crypto hack of 2026. Prior to this event, a total of $1.73 billion had been stolen across 333 separate incidents targeting various cryptocurrency organizations throughout the year.
