Bitget Hack Losses Reach $387.5M; CEO Points to North Korea

The notable detail here is not the size of the loss but the attribution: a sitting exchange CEO publicly naming North Korea shifts the incident from a technical failure story into a geopolitical one, which typically invites a different tier of scrutiny from regulators and law enforcement. The method — spoofed internal transfer requests — targets process and authorization controls rather than smart contracts, a reminder that operational security around hot and warm wallets remains the softer target. Whether the attribution is corroborated by independent investigators, and whether the exchange's reimbursement posture becomes a template for peers, is the open question.