Bitget Donates Millions To Lazarus

Bitget waved goodbye to $351.6 million after an intrusion into its hot wallets. At least their user protection fund gets some exercise today.

Source: Hackread

The Full Story

Severity: Critical Mood: Expected

Here we go again with crypto custodians watching $351.6 million vanish from Bitget hot wallets into suspected Lazarus Group pockets. Bitget halted withdrawals to cope, reassuring customers that their four-hundred-million-dollar protection fund will foot the bill for this shambles. Safeguarding our own funds apparently means locking down wallet infrastructure properly instead of relying on immense rainy-day funds. Just another Tuesday in the glorious, leak-prone financial future.

#CryptoHeist #LazarusGroup

Open article →