Bitget restores $300M fund after absorbing $388M security breach
Summary
Bitget said on Sept. 30 that it had restored its Protection Fund to more than $300 million after the fund absorbed about $388 million in impact from a Sept. 24 security breach. The exchange said customer balances were unaffected and that it met its pledge to replenish the fund within a week. The amount of new capital added was not disclosed. Fund eligibility allows users to submit claims, but reimbursement is subject to Bitget’s review and is not guaranteed. A separate reserve report showed a 131% overall ratio across 19 assets. USDT withdrawals had reopened on Ethereum, BSC, Solana and Tron; remaining crypto, fiat and peer-to-peer services were scheduled to resume on Oct. 2.
