North Korea · South Korea · FBI · Cointelegraph
Bitget CEO suspects North Korea behind $352 million hack, citing IP clues
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Bitget CEO Gracy Chen said a preliminary investigation found IP addresses matching VPN choices associated with a DPRK hacking group.
Key facts
- North Korean hackers were linked to an estimated $2.02 billion in crypto theft in 2025, including the roughly $1.5 billion Bybit exchange hack, which the FBI attributed to North Korea
- Bitget CEO Gracy Chen said North Korean hackers may be behind the exchange’s $351.6 million security breach on Thursday, citing preliminary findings linking IP addresses to VPN services used
- AFX, which was hacked for $24 million in July, said in its postmortem that it suspected involvement by TraderTraitor, a North Korea-linked group
- In a post on X, Specter said they traced some of the stolen XRP to an Ethereum address that received 68,808 USDT from a wallet
Summary
Bitget CEO Gracy Chen said North Korean hackers may be behind the exchange’s $351.6 million security breach on Thursday, citing preliminary findings linking IP addresses to VPN services used by a North Korean group. Speaking during a live Q&A following the incident on X, Chen said security investigators had flagged similarities with previous North Korean attacks. “We’ve identified some IP addresses that match the VPN choices by a certain DPRK group,” Chen said, referring to the Democratic People’s Republic of Korea. North Korean hackers were linked to an estimated $2.02 billion in crypto theft in 2025, including the roughly $1.5 billion Bybit exchange hack, which the FBI attributed to North Korea.