A major cryptocurrency exchange, Bitget, has confirmed that it suffered a significant cyberattack, during which approximately $351 million worth of cryptocurrencies were stolen. The breach targeted "hot wallets," which are digital storage systems connected to the internet and used for active trading, as opposed to "cold wallets," which are kept offline for greater security. Bitget has paused withdrawals on its platform but stated that customer account balances remain accurate, and deposits and trading continue as usual. The exchange also mentioned it has a user protection fund worth $464 million, which it claims is enough to cover any losses from the incident. The attack is believed to be linked to cybercriminal groups from North Korea. Bitget noted that the methods used in the breach "exactly match the known patterns of North Korean cybercriminal groups." This pattern is similar to the largest cryptocurrency heist in history, which occurred nearly 18 months ago at another exchange called Bybit. In that attack, hackers stole nearly $1.5 billion in cryptocurrencies, and the breach was attributed to the North Korean group Lazarus, known for its involvement in high-profile cyberattacks. Blockchain analysis firm TRM Labs has estimated that North Korea is responsible for about 75% of all cryptocurrency thefts recorded in 2026. These attacks often involve sophisticated cyber operations targeting cryptocurrency exchanges, which hold large amounts of digital assets. The frequency and scale of such breaches have raised concerns about the security of digital financial systems and the ability of regulatory bodies to prevent or respond to these threats. This latest incident highlights the ongoing vulnerability of cryptocurrency platforms to cyberattacks, particularly from state-sponsored or organized hacking groups. While Bitget claims it has the financial resources to mitigate the impact on its users, the broader implications for the cryptocurrency industry remain uncertain. The incident also underscores the need for stronger security measures and international cooperation to combat digital theft and protect users' assets.