Bitcoin
Chainalysis Attributes $387 Million Bitget Exchange Breach to North Korean Hackers
Blockchain analytics firm Chainalysis concluded that North Korean operatives executed the September hack of Bitget, pushing the country's annual crypto theft total past $1 billion.
Blockchain tracing firm Chainalysis published findings attributing the September 24 exploit of the Bitget cryptocurrency exchange to actors affiliated with North Korea. The $387 million breach lifts estimated crypto thefts linked to Pyongyang beyond $1 billion for 2026, aligning with prior assessments shared by Bitget leadership and security firm Elliptic.
According to the analysis, the stolen funds were dispersed within three hours across 23 individual transactions spanning four distinct blockchains. Ethereum received 49.7% of the diverted assets, XRP accounted for 40.8%, Zcash took 7.6%, and Tron absorbed 1.8%. The attackers subsequently deployed cross-chain liquidity networks, instant exchange tools, and mixing services to mask the transaction trail.
A significant portion of the stolen XRP was routed through cross-chain liquidity infrastructure to acquire Bitcoin, which was moved over roughly 36 hours into designated attacker addresses that remain under surveillance. Chainalysis reported that it utilized proprietary artificial intelligence tools to accelerate the investigation, reducing bridge tracking procedures that typically require over 20 hours to under 10 minutes.
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