Bitget moves to acquire Thai crypto exchange after September breach
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
Bitget announced plans on October 20, 2026, to acquire Thai exchange operator GMO-Z.com Cryptonomics via BTGT Management, weeks after suffering an estimated $388 million exploit.
Bitget announced plans on October 20, 2026, to acquire licensed Thai exchange operator GMO-Z.com Cryptonomics (Thailand) through BTGT Management (Thailand), according to crypto.news. The move aims to establish an operational foothold in Thailand, though the proposed transaction requires regulatory clearance and other closing conditions before the share transfer targeted for October 31 can be completed.
The expansion follows a security incident in late September 2026, in which attackers drained approximately $387.5 million to $388 million in digital assets across 11 blockchains. According to aviatrix.ai, North Korean threat actors infiltrated Bitget's infrastructure starting August 31 by exploiting a zero-day vulnerability in third-party security appliances, deploying a customized tool to forge withdrawals of tokens including XRP, Ethereum (ETH), and Tether (USDT).
Target firm GMO-Z.com Cryptonomics has posted consecutive operating losses, including 74.16 million baht in 2025, crypto.news reported from parent firm GMO Internet's filings. No new unauthorized withdrawals occurred on Bitget leading up to October 21, 2026.
Key facts
- $387.5M-$388M stolen in Sept
- Acquiring GMO-Z.com Cryptonomics
- Share transfer set for Oct 31
- Zero-day third-party exploit
Read the original at crypto.news