Key facts
- Bitget confirmed losses of $387.5 million from a security breach.
- Attackers spoofed transaction data to gain access to hot and warm wallets.
- Stolen assets include XRP, Ether, Tether, Zcash, USDC, XAUt, BNB, AVAX, and TRX.
- CEO Gracy Chen suspects North Korean hackers based on IP clues and on-chain analysis.
- Bitget has paused withdrawals and is working on asset recovery.
- The incident is the largest crypto heist of 2026.
Crypto exchange Bitget has confirmed that a security breach resulted in losses of $387.5 million, an increase from initial estimates. CEO Gracy Chen indicated that preliminary findings, including IP address patterns and on-chain analysis, suggest North Korean hackers may be responsible for the incident. The attackers reportedly gained access by spoofing transaction data to approve transfers from the exchange's hot and warm wallets, rather than by stealing private keys. Bitget stated that user funds and cold wallets remain secure. Withdrawals have been paused while the exchange continues its investigation and works on asset recovery. The breach involved assets across Ethereum Virtual Machine networks, the XRP Ledger, Zcash, and TRON, including XRP, Ether, Tether's USDt, Zcash, USDC, USDT0, XAUt, BNB, AVAX, and TRX. This incident ranks among the largest crypto heists, surpassing a previous $340 million incident and identified as the largest of 2026. Meanwhile, KelpDAO has filed a lawsuit against cross-chain protocol LayerZero and its CEO, Bryan Pellegrino, alleging that failures in LayerZero's security infrastructure contributed to the roughly $292 million exploit of its rsETH bridge earlier this year.