North Korean hackers are suspected of stealing $351 million from cryptocurrency exchange Bitget, a move that has been described as the largest crypto theft of 2024. TechCrunch reports that the loss was uncovered after a series of irregularities surfaced in Bitget’s trading platform, prompting the exchange to notify its users and authorities.

Bitget, a global crypto exchange that offers futures and spot trading, has not publicly disclosed the technical details of the breach, but the magnitude of the theft indicates a sophisticated operation. Analysts point to a pattern of high‑profile attacks on the crypto industry this year, with several exchanges and wallets reporting significant losses. The suspected North Korean actors have a history of targeting digital assets, often leveraging malware and social‑engineering tactics to bypass security controls.

The incident highlights the growing vulnerability of crypto platforms to state‑aligned adversaries and the challenges regulators face in enforcing robust security standards. Investors and users are left questioning the reliability of custody solutions, while industry stakeholders are calling for tighter oversight and improved incident‑response protocols. The theft underscores the need for exchanges to adopt advanced threat‑detection systems and to collaborate more closely with law‑enforcement agencies to deter future attacks.

As regulators worldwide review their frameworks for digital asset security, Bitget’s loss serves as a stark reminder that even the largest exchanges are not immune to sophisticated hacking campaigns. The incident will likely accelerate discussions around mandatory security audits, real‑time monitoring, and cross‑border cooperation to protect the rapidly expanding crypto ecosystem.