Bitget: Protection Fund to Cover Losses from Recent Security Incident

Bitget Greater China head Xie Jiayin stated that the exchange's protection fund, currently valued at over $464 million, will cover losses from a recent security breach, ensuring user assets remain unaffected. The incident, detected at 2:31 a.m. today, involved abnormal transfers from certain hot wallets estimated at approximately $351.6 million. Most platform assets and cold wallets remain secure. Bitget has suspended withdrawals for safety, notified law enforcement, and plans to release a full incident report within 24 hours.