Nobody stole the keys. That's what makes this one different. Bitget lost $387.5 million on Thursday making it the largest crypto theft of 2026. Attackers got into a backend system in its wallet infrastructure & fed it forged transaction data. Bitget's own authorization process then approved the transfers as routine. Nineteen transfers across five blockchains, including 103 million XRP worth about $157 million. Private keys were never compromised. Cold wallets were never touched. Every security control people usually argue about held & the money left anyway, because the system was persuaded rather than broken. Attribution points at North Korea. CEO Gracy Chen says IP addresses match VPNs used by a DPRK-linked group & the on-chain behaviour matches past operations. Elliptic calls it highly likely & notes the stolen funds touched addresses previously used to launder last year's $1.4 billion Bybit theft. Bitget says its User Protection Fund covers the whole loss. Worth knowing what that fund is: roughly 5,500 bitcoin. So the insurance is denominated in the same asset class it's insuring & its dollar value moves with the market it's meant to protect users from. Withdrawals are paused. Deposits & trading stayed open. There's a bounty paying 5% for freezing attacker funds, 5% for recovery & some blockchain foundations have already frozen addresses. Custody debates usually stop at hot wallet versus cold wallet. This one says the vault was fine. The paperwork wasn't.

Nobody believes Bitcoin Core is dying; just as nobody believed fiat was dying in 2009. They look/ed so strong and invincible. Bitcoin Purity is as weak and small as Bitcoin was in 2009. I believe Bitcoin Purity will surpass Core in a significantly shorter timeframe than 17 years. #bitcoin# #bitcoinpurity#