UPDATE: Bitget records $463 million in net outflows after Lazarus breach
CIE News ·
Bitget saw $463 million in net outflows following a Lazarus Group exploit across seven chains, which reduced the exchange's User Protection Fund below $200 million.
As previously reported, Bitget suffered a security incident that resulted in $387.5 million drained from its hot and warm wallets. On September 29, 2026, the exchange logged $463 million in net outflows as user withdrawals escalated following the breach. Depletion of the reserve assets to cover the losses has driven Bitget's User Protection Fund down from $464 million to below $200 million.
According to halborn.com, investigators attributed the intrusion to North Korea's Lazarus Group based on transaction patterns and linked addresses. The exploit involved 17 unauthorized transfers across networks including Ethereum, BNB Smart Chain, Arbitrum, Avalanche, Optimism, Base, and the XRP Ledger. The perpetrators compromised off-chain backend infrastructure via a third-party security tool, spoofing transactions through regular internal approval channels without exposing private keys.