Bitget crypto exchange suffers $350M hack, suspends withdrawals

Bitget: Bitget operates as a cryptocurrency exchange that is evolving into a Universal Exchange platform providing access to crypto assets alongside tokenized equities, commodities, and other financial instruments. The platform recently detected unauthorized transfers from portions of its hot and warm wallet infrastructure in an incident attributed to methods consistent with North Korean hacking groups. It has initiated an investigation with external security firms, suspended withdrawals, and committed to covering affected user assets through its dedicated protection fund while maintaining deposits and trading services. Incident Details: The breach occurred through compromise of a wallet backend system that allowed spoofed transaction data to trigger the authorization process, without involving private key theft. Security Response: Cold wallets remained unaffected, deposits and trading services continued uninterrupted, and withdrawals were paused pending completion of security reviews and reinforcements. Threat Attribution: Investigators traced IP behavior patterns and on-chain activity to methods highly consistent with known North Korean hacker organizations.