Bitget Rebuilds Protection Fund Above $300M After September Security Incident
Summary
Bitget said it replenished its user-protection reserve to more than $300 million on September 30, after using the fund in response to a September 24 security incident. The exchange estimated the incident affected $388 million and said user account balances remained accurate. It had pledged to restore the reserve within a week. Withdrawals and other services were returning in stages, with the schedule reaching its October 2 phase. Bitget also published attacker addresses and a recovery-bounty framework; investigations and potential asset recoveries may continue. The rebuilt reserve offers a financial backstop but does not resolve broader questions about security controls or the incident’s final losses.
