Hupzy (Spot On Chain)|Sep 29, 2026 20:46
Bitget has resumed withdrawals after a hack that cut its on-chain balance by roughly $๐ฒ๐ฌ๐ฌ ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป, though the exchange still holds over $๐ฒ.๐ณ ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป in assets.
๐๐๐ฝ๐๐ ๐๐ฎ๐ธ๐ฒ: A $600M exchange hack is a major counterparty-risk event. While Bitget is not an integrated Hupzy venue, the incident reinforces broader CEX security concerns and may drive renewed flows toward self-custody and on-chain venues like Hyperliquid and Aster. Watch for contagion if stolen assets are deposited to other exchanges for liquidation โ that's the downstream price channel.
No specific token is directly impacted, but broad risk-off sentiment from exchange hacks historically pressures short-term crypto liquidity. The fact that withdrawals reopened quickly limits a full-blown confidence crisis, but the balance drop is a visible scar on the exchange's reserves.
https://arkm.com/explorer/entity/bitget
source: arkham
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