Bitget Detects $357 Million Transfer in Security Incident
Withdrawals were suspended after unauthorized transfers from Bitget wallets. Bitget says its $464 million user protection fund covers the reported loss.
Bitget detected about $357 million in unauthorized asset transfers Thursday, suspending withdrawals after a security incident that Elliptic linked to the North Korean-associated TraderTraitor group.
The affected assets included multiple tokens, and the funds were rapidly exchanged and moved across blockchain networks.
Bitget said its cold wallets were not affected. The exchange also said its $464 million user protection fund is sufficient to cover the reported loss, while security teams investigate the incident with Mandiant and SlowMist.
Elliptic said the laundering pattern and overlapping blockchain addresses matched techniques associated with TraderTraitor. The group’s suspected cryptocurrency thefts in 2026 have reached about $1.2 billion across more than 50 incidents.
Bitget plans to provide an update on restoring withdrawals at 12 a.m. ET Saturday (04:00 UTC).
