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XRP Bitget has suffered a major security breach, and its founder suspects that hackers are connected to North Korea.
In September this year, Bitget, a leading cryptocurrency trading platform, suffered a major security breach. Market participants said this was one of the largest cryptocurrency hacking incidents this year. Since then, the founder of the platform has publicly spoken out on the matter, saying that the hacking attack on the exchange may be traced back to North Korea.
Incident and preliminary investigation
Bitget detected unauthorized transfers in multiple of its hot wallets on September 24. Gracie Chen, CEO of the company, explained that the exchange traced the relevant IP address and found that its VPN activity pattern was highly consistent with a known North Korean-affiliated organization, so it believed that the connection with North Korea was "highly probable."
Chen Yi emphasized that the attacker did not obtain the private key of any Bitget hot, warm or cold wallets. Instead, they moved funds directly by hacking into the exchange's internal systems.
User Asset Protection and Fund Coverage
In order to allay users 'concerns, the exchange stated that its user protection fund of more than US$464 million is sufficient to fully cover the loss.
According to an announcement released by Bitget, an "unauthorized transfer" occurred in assets worth approximately US$351 million in the hot wallet. Assets affected by the surge in outflows include USDC, ETH, USDT, etc. The exchange clearly stated: "This incident is covered by the Bitget User Protection Fund."
Detailed update and recovery progress
At the same time, the founder of Bitget shared more latest announcements on the X platform (formerly Twitter). He provided detailed updates during a live broadcast that lasted more than three hours, outlining the latest developments about 12 hours after event detection.
This unauthorized transfer affected a variety of assets, including ETH, XRP (the largest single chain loss), BNB, AVAX, USDT, USDC, etc. The affected networks include Ethereum, XRP ledgers, Arbitrum, Avalanche, Optimism, BNB Intelligent Chain and Base. All Bitget's on-chain cold wallets remain safe and uncompromised.
The exchange stated that it has contacted all affected blockchain foundations. Some foundations have confirmed that they have frozen relevant hacker wallet addresses. Bitget is looking at all available recovery channels and will continue to release updates as new information is disclosed.
Technical Analysis and Independent Wallet Security
According to the founder, analysis of IP behavior patterns and on-chain data shows that the attack methods are very similar to those known to North Korean-affiliated hacker groups. The company has reported the matter to relevant authorities and fully cooperated with the global investigation.
Bitget emphasized that its decentralized Bitget Wallet operates independently of the exchange infrastructure and is completely unaffected. User assets stored in Bitget Wallet remain safe.
Fund transparency and withdrawal arrangements
创始人再次重申，Bitget的用户保护基金超过4.64亿美元，且存放在可公开验证的钱包地址中。此外，公司的自有资产超过10亿美元。用户资金保持1:1全额支持，保护基金和用户资产数据均可在链上验证。
关于提现问题，Bitget表示其目标是尽快恢复完全访问权限。交易所称，只有在确认具体时间窗口后才会公布，不会承诺无法兑现的时间表。
