Bitget CEO links $352M hack to North Korea, citing IP evidence
Gracy Chen said a preliminary investigation found IP addresses matching VPN choices tied to a North Korean hacking group.
Bitget chief executive Gracy Chen has pointed to North Korea as the likely source of a $352 million hack, saying an initial investigation by the exchange surfaced IP addresses that match the VPN options used by a known DPRK hacking group.
Chen described the finding as preliminary, meaning the attribution has not been confirmed. The exchange has not released the underlying technical evidence, and no independent party has publicly verified the link.
What the investigation found
- IP addresses flagged in the review were consistent with VPN services linked to a North Korean hacking group
- The hack under investigation is put at $352 million
- The exchange characterises the finding as preliminary and subject to further review
Attribution in crypto hacks is often slow and contested, with security researchers, exchanges and law enforcement sometimes reaching different conclusions. North Korea-linked groups have been accused of a string of crypto thefts in recent years, and stolen funds are frequently routed through mixers and cross-chain bridges to obscure their origin.