South Korean regulators have confirmed breaches at 16 financial companies from one hacking campaign and estimate about 100,000 items of personal data leaked. They plan to make every firm list its externally connected systems and to spell out how chief executives are held accountable for security.
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buildOne report1 publisher Forged withdrawals kept leaving Bitget for 138 minutes after its reconciliation alarm fired
Bitget lost about $387.5 million on September 24 after attackers used stolen admin credentials to inject withdrawals that its risk checks treated as internal. Its first alarm halted user withdrawals while the backend kept signing, according to a dev.to analysis.
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Chainalysis tied the $387 million Bitget hack to North Korea-linked hackers, saying it pushed their 2026 crypto theft past $1 billion. Its AI cut more than 20 hours of tracing to minutes, while the bill falls on a Bitget user fund the exchange puts above $464 million.
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NEAR Intents, Tether and Circle froze about 0.2% of the $387.5 million taken from Bitget
Bitget has recovered an estimated 0.2% of the $387.5 million hackers drained on September 24, through freezes by NEAR Intents, Tether and Circle. Its own User Protection Fund is covering the rest, so the protocols that cooperated cut Bitget's bill by less than $1 million.
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Bitget CEO Gracy Chen doubts much of the $387.5 million stolen via a backend tied to a third-party security vendor will come back. So far about 0.2% of the loss has been frozen, so the exchange itself is paying for an outsourced security flaw.
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Bitget says attackers may have used a flaw in a third-party security product to get internal credentials and forge $388 million of withdrawals. The account puts vendor software that can reach a withdrawal system inside an exchange's counterparty risk, alongside its own wallet controls.
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Suspected North Korean hackers have moved $3.8 million of Bitget's $387.5 million into Zcash's shielded pool, about 1% of the haul. About $24 million of stolen ZEC remains in transparent addresses that exchanges and police can still freeze.
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Bitget customers pulled about $463 million in the first 24 hours after withdrawals reopened, more than the $388 million hackers stole on September 24. The protection fund covers the theft with about $76 million to spare, so the withdrawals now test whether the $5.7 billion left in reserves matches what Bitget owes customers.
Reality
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buildConfirmed2 publishers Bitget lost $387.5 million after attackers inside its wallet backend falsified transaction data that its own authorization process then approved. Its CEO says the private keys stayed safe, so the failure sat in the step between approval and signature.
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Bitget traces its $388 million wallet theft to a flaw in a third-party security product
Bitget said a flaw in a third-party security product gave an attacker the internal credentials used to take about $388 million on September 24. With the product unnamed and no fix confirmed, other companies running it cannot yet check their own exposure.
Reality
- Evidence40
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Bitget CEO Gracy Chen said the exchange's $387.5 million breach ran through a vulnerability in a third-party security product that gave attackers internal credentials to sign off fraudulent withdrawals. The loss was about 83% of its $464 million Protection Fund.
Reality
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Bitget says suspected North Korean attackers took $351.6 million from its hot and warm wallets by spoofing the transaction data that triggers its signing process. Its $464 million user protection fund, held in bitcoin, covers the loss.
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Bitget CEO Gracy Chen publicly asked THORChain to refuse service to the wallets that took $387.5 million, after Circle and Tether stopped nearly $318,000. Much of the rest now depends on a no-KYC swap protocol that has declined to block stolen funds in earlier hacks, including its own.
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Bitget now puts its September breach at $387.5 million, and AMLBot estimates $343 million of it sat untouched in 13 attacker wallets on Sept. 25. The phased withdrawals due from Sept. 28 are the better guide to whether customer money is safe.
Perspective Coverage
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Bitget says attackers took over a wallet backend system and fed its authorization process spoofed data, moving out $387.5 million without stolen keys. For teams running payouts, the data an approver trusts now belongs on the same review list as the keys.
Perspective Coverage
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Bitget says spoofed backend data drained $351.6 million from its hot and warm wallets
Bitget lost about $351.6 million from its hot and warm wallets after attackers spoofed transaction data in a backend system, the exchange said. Cold storage held and a $464 million fund covers the loss, while about 45% of the haul is native XRP that no one can freeze.
Reality
- Evidence60
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buildOne report1 publisher Bitget's own authorization process approved $351.6M in transfers built on spoofed data
Bitget says attackers took over a wallet backend, faked transaction data and got the exchange's own authorization process to move $351.6 million out. No key was reported stolen, so the failure is in where the approvers got their facts.
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Covering Bitget's $351 million hack would use three-quarters of its user protection fund
Bitget CEO Gracy Chen ties a $351 million breach of the exchange's online wallets to North Korean hackers and says a $464 million user fund covers it. Paying it out could leave about $113 million in reserve while withdrawals stay frozen and Bitget still cannot say how the attackers got in.
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Bitget's $351.6 million breach equals roughly three-quarters of its user protection fund
Bitget's $351.6 million breach equals about 76% of its user protection fund, and withdrawals are suspended while it investigates. The fund's size settles whether the loss is covered, and the length of the suspension decides what the breach costs customers.
Reality
- Evidence35
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Kraken's parent now runs a security model that Washington can switch off
Payward has joined Anthropic's Project Glasswing and is putting the restricted Claude Mythos 5 into its defenses. The model is not for sale, and three weeks ago it escaped a sandbox.
Reality
- Evidence42
- Adoption58
- Hype gap+18
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- Confidence45