Bitget lost $387.5 million as alleged launderers sought support publicly

  • ZachXBT identified five accounts allegedly laundering proceeds from the Bitget hack.
  • 277,724 XRP allegedly entered one swap, while only 431 XRP returned.
  • Bitget said withdrawals would reopen Monday, and ZachXBT plans further disclosures.

People allegedly laundering proceeds from the $387 million Bitget hack sought help in public Discord and Telegram chats, according to blockchain investigator ZachXBT. He identified five accounts and matched each to a transaction, including users who complained that XRP-to-Bitcoin swaps through THORChain (a network for cross-blockchain token swaps) had failed. Bitget lost $387.5 million on September 24 after attackers allegedly deceived its internal approval system into signing transfers. CEO Gracy Chen said North Korea was "very likely" behind the attack. ZachXBT also linked one account to the $292 million Kelp DAO exploit in April and said the funds were moving through bridges and mixers (services that obscure transaction trails). Bitget said withdrawals would reopen Monday, while ZachXBT plans to publish more information in the coming weeks.

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