BitGet

Crypto exchange Bitget has reportedly been hit by a hack worth an estimated $388 million, with investigators saying North Korea is likely responsible. The heist would rank among the largest cryptocurrency thefts attributed to the country, whose state-linked hackers have repeatedly targeted digital asset platforms to fund the regime. Analysts are monitoring whether the stolen funds will be laundered through mixing services.

Roughly $183 million disappeared from Bitget exchange wallets, prompting widespread alarm among users who fear the funds were taken in a hack. The exchange has not yet been clearly confirmed as compromised, and traders are watching for official statements while moving to check their balances and withdraw funds.

THORChain, the decentralized liquidity network, is facing internal governance dilemmas in the aftermath of a major security breach at the cryptocurrency exchange Bitget. The incident has intensified debate over how decentralized protocols should respond to exchange hacks and manage their own decision-making processes. Commentators are weighing the implications for cross-chain finance and whether THORChain's governance structure is equipped to handle fallout from external security failures.