Investigator finds suspects of Bitget’s $387 million hack in public chats

Independent researcher ZachXBT revealed this week that suspects involved in the $387 million Bitget hack sought help to launder stolen funds in public Discord and Telegram chats. The discovery points to possible connections with other recent attacks in the crypto world, highlighting security flaws and the boldness of digital criminals.

How investigators tracked the Bitget hack suspects

According to ZachXBT, known for investigating cryptocurrency crimes, the movement of wallets associated with the Bitget hack was monitored after the attack, which took place in May 2024. The researcher noted that, in addition to using traditional obfuscation methods such as mixers and DeFi protocols, the alleged launderers went so far as to openly ask for instructions in forums and public groups, revealing technical details of the transfers.

Messages analyzed by ZachXBT indicate that the suspects requested tips on how to anonymously convert large amounts of crypto assets without raising suspicion on centralized platforms. Their exposure in public channels surprised experts, as operations of this kind are usually conducted in private, encrypted environments.

Connection to the Kelp DAO hack and suspects’ history

During the investigation, ZachXBT identified that one of the active profiles in the public chats had already been linked to the Kelp DAO attack, which caused losses of around $50 million in early 2024. This connection suggests the involvement of specialized groups operating multiple scams and sharing techniques among themselves.

The modus operandi includes splitting the stolen amounts into hundreds of smaller transactions, using privacy protocols, and attempting to convert to stablecoins. Despite these strategies, the public exposure of their requests for help may make it easier for exchanges and authorities to track them, putting even more pressure on the suspects.

Impacts on the market and security challenges

The Bitget hack became one of the biggest incidents in the sector in 2024, damaging user trust and sparking discussions about the resilience of centralized exchanges. With estimated losses of $387 million, the attack put Bitget in the spotlight and served as a warning for other platforms to strengthen their security practices, especially in wallet monitoring and preventing unauthorized access.

For investors, the case highlights the risks associated with storing assets on exchanges and the importance of following public investigations. The tracking of stolen funds and the hackers’ attempts to seek support in accessible spaces show that, despite the sophistication of the scams, there are gaps that can be exploited to identify and block those responsible.

What to watch next

The progress of the investigations could result in wallet freezes, fund seizures, and eventually the identification of those behind the attacks. Exchanges and DeFi protocols remain alert for suspicious activity, while investors await possible fund recoveries and improvements in compliance practices.

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With information from BeInCrypto Brazil (September 2026).

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Alexandre Bianchi

Fundador da Bianchi Capital e do Zayion AI. ~10 anos no mercado de ativos digitais, autor de referência e presença na mídia.

Autor de “O Manual do Criptoinvestidor”Presença na RedeTVPublicado no Terra+150 mil seguidores

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