BITGET LOSES $351.6M IN SUSPECTED NORTH KOREAN HACK

Bitget confirmed the theft affected funds stored in its hot wallets (actively used for transactions) and warm wallets (semi-active reserves). The exchange has initiated recovery protocols and notified law enforcement and relevant authorities. Hot and warm wallets are more accessible than cold storage systems, making them more vulnerable to attacks. The breach underscores ongoing security challenges in the crypto sector despite industry investments in protective measures. Bitget operates as one of the larger cryptocurrency derivatives exchanges globally. The platform has committed to implementing enhanced security audits and wallet management procedures. Users have been advised to review account activity for unauthorized transactions. North Korean-linked hacking groups have targeted crypto exchanges repeatedly, with previous incidents resulting in billions in losses across the industry. The stolen funds may be moved through mixing services to obscure their origin.