xiyu|Sep 30, 2026 23:30
Bitget CEO Gracy Chen stated on the X platform Wednesday that following the security incident causing $388 million in user losses, withdrawals for all tokens on the exchange will resume starting Friday, with BTC, ETH, and USDT channels already restored.
She mentioned that the exchange's protection fund has reached $309 million and has absorbed the financial impact of this incident. The fund was established in January 2022 with 5,500 BTC to compensate for losses caused by non-user or platform misconduct. Bitget has not ruled out the possibility of insider involvement or North Korean hackers and has launched a bounty program, offering rewards of 5% each for frozen and recovered funds.
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