Bitget Reports 131% Reserve Ratio Following September Security Breach

Bitget disclosed a 131% reserve ratio in its September 29 Proof of Reserves report, covering 19 digital assets. This follows a September 24 security incident involving approximately $387.5 million in unauthorized outflows. CEO Gracy Chen stated that user balances remain unaffected and will be covered by the exchange's User Protection Fund. The current ratio, slightly down from 135% in mid-September, remains above the 100% threshold.