Bitget Suffers $352 Million Hack During Eighth Anniversary

Bitget CEO Gracy Chen confirmed that the exchange was hit by a $352 million hack, likely perpetrated by the North Korean Lazarus Group. The breach involved the compromise of wallet service backend systems, though cold wallets remained secure. Bitget has paused withdrawals and is working with Mandiant and SlowMist to investigate, while stating that user funds are covered by the exchange's $464 million User Protection Fund.