Key Insights
- Crypto today focused on Bitget’s $387.5 million security breach and recovery efforts.
- Bitget CEO Gracy Chen cited preliminary evidence pointing toward North Korean hackers.
- Securities and Exchange Commission Commissioner Hester Peirce plans to leave on Oct. 2.
Crypto today centered on exchange security and U.S. digital asset regulation. Bitget raised its breach estimate to $387.5 million, while Hester Peirce announced her Securities and Exchange Commission departure.
Bitcoin remained relatively stable despite the security incident. Bitcoin traded near $84,110, while Ether changed hands around $2,690, according to CoinMarketCap.
The Bitget investigation remained the main security story. The exchange also started tracing stolen funds and preparing a phased return of withdrawals.
Crypto Today: Bitget Raises Breach Estimate to $387.5 Million
Bitget said attackers transferred about $387.5 million to addresses they controlled. The exchange previously estimated losses from the Sept. 24 incident at $351.6 million.
The revised figure added assets transferred through Zcash and TRON. Bitget said the increase did not represent another round of unauthorized transfers.
The incident affected Ethereum Virtual Machine networks, the XRP Ledger, Zcash and TRON. Bitget listed XRP, Ether, USDT, ZEC, USDC, USDT0, XAUt, BNB, AVAX and TRX among affected assets.
Bitget initially detected unauthorized transfers at 18:31 UTC on Sept. 24. The exchange said its cold wallets remained unaffected by the incident.
It also said customer balances remained protected through its User Protection Fund. Bitget valued that fund above $464 million when it disclosed the breach.
Bitget later said investigators identified and fixed the underlying vulnerability. Cybersecurity firms Mandiant and SlowMist joined the investigation and fund-tracing process.
The exchange also launched a recovery bounty program. Its security team continued tracking attacker-controlled wallets across several blockchain networks.
Bitget CEO Points to Possible North Korea Link
Bitget CEO Gracy Chen said preliminary evidence pointed toward possible North Korean involvement. She cited internet protocol addresses associated with virtual private network services used by a North Korean group.
The attribution remained preliminary as of Sept. 26. Bitget had not published a final forensic report confirming who conducted the attack.
That distinction matters because blockchain fund tracing does not automatically identify an attacker. Infrastructure similarities can support an investigation but do not provide conclusive attribution alone.
North Korean state-linked hackers have previously targeted major cryptocurrency platforms. The Federal Bureau of Investigation attributed the February 2025 Bybit theft to North Korea.
The FBI said attackers stole about $1.5 billion from Bybit on Feb. 21, 2025. It identified the activity as part of a North Korean operation called TraderTraitor.
Bitget said the Sept. 24 breach remained contained after its security fix. The exchange reported no additional unauthorized transfers after the original incident.
Crypto Today: Hester Peirce Sets SEC Departure for Oct. 2
Securities and Exchange Commission Commissioner Hester Peirce said she would leave the regulator on Oct. 2. She disclosed the departure through a resignation letter posted on X.
Peirce has remained closely associated with the SEC’s digital asset policy work. The agency currently identifies her as the official leading its Crypto Task Force.
The task force has worked on digital asset classification and securities regulation. It has also held meetings and public discussions with industry participants and financial institutions.
SEC records showed Peirce remained one of three commissioners alongside Chairman Paul Atkins and Commissioner Mark Uyeda during September. The three participated in several commission votes during the month.
Her departure comes as the SEC continues work on digital asset rules. Recent agency activity has covered tokenized securities and trading venues using distributed ledger technology.
Peirce also remained active in the agency’s policy discussions this month. SEC records showed statements from her on crypto and securities regulation through September.
Bitcoin Price Holds Near $84,000 Despite Security Headlines
The broader market showed limited reaction to the Bitget breach. Bitcoin traded around $84,109 at the time of writing, according to CoinMarketCap.
The price of bitcoin had moved between roughly $83,166 and $84,557 over 24 hours. Its market capitalization stood near $1.68 trillion.
Ether traded near $2,690 after moving between $2,669 and $2,721. CoinMarketCap placed its market capitalization at roughly $328.4 billion.
The muted reaction suggested traders had treated the Bitget incident as exchange-specific so far. However, the recovery process and withdrawal schedule remain areas to watch.
For crypto today, security risks and regulation dominated the headlines. Bitget’s investigation remained unresolved, while Peirce’s departure set another regulatory transition for early October.
Beatrice Mastropietro
Beatrice Mastropietro is a cryptocurrency and financial markets writer at CrypTocker. She covers Bitcoin, digital assets, blockchain regulation, market trends, institutional activity and financial technology. Her work focuses on research-driven reporting, clear sourcing and accurate market analysis.
