Phyrex
Phyrex|Sep 28, 2026 10:57
Just watched @Bitget_zh's livestream, and the issue everyone was most worried about—withdrawals—is gradually being resolved. I also asked around a bit, and it turns out they’re prioritizing bitcoin:native withdrawals because internal checks showed the problem wasn’t with the Bitcoin chain itself but rather a vulnerability in a third-party security product. As long as withdrawals are being processed, things are moving in a positive direction. Took a look at the data—over 6,900 transactions, worth more than 2,700 Bitcoin, have already been successfully withdrawn. Although this is Bitget’s first security incident in its eight-year history, security is no small matter. Thankfully, Bitget has enough self-owned funds to cover the losses this time. Still, I think exchanges could consider adopting solutions from custody institutions. I remember some custody solutions even come with insurance. Also, I recall last time Bybit had an issue, it was related to a third party (multi-sig). This time it’s the same with Bitget. So, it’s clear that third-party security checks need to be even more rigorous.
+4
Mentioned
Share To

Timeline

HotFlash

APP

X

Telegram

Facebook

Reddit

CopyLink

Hot Reads