Bitget ‘gradually back to usual’ as protection fund reaches $309M
Summary
Bitget is gradually restoring normal operations after a security breach that drained $388 million in user funds. CEO Gracy Chen said withdrawals for all tokens should resume on Friday, and access to BTC, ETH, and USDT has already been restored. Bitget’s Protection Fund has grown to $309 million and is being used to absorb the loss. Chen said the exchange has not ruled out possible attackers, including an insider or North Korean hackers. Bitget also launched a bounty program offering 5% of frozen funds and 5% of recovered funds. Separately, blockchain investigator ZachXBT reported that wallets linked to the hack moved about $3.8 million in Zcash through the Ironwood pool.
