Bitget Reports All Withdrawals to Resume as Protection Fund Reaches $309M
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5 Articles
Cointelegraph
The New York LedgerBitget Reports All Withdrawals to Resume as Protection Fund Reaches $309M
Bitget CEO Gracy Chen said that a protection fund created by the company in 2022 “absorbed the financial impact of the incident“ that resulted in $388 million in user losses.
Bitget after the hack: withdrawals are back and the Protection Fund is above $300 million
Six days after the attack on its hot wallets, Bitget is back with good news. Withdrawals for Bitcoin, Ether and USDT are running again, the customer Protection Fund is back above $300 million, and the new proof of reserves shows coverage above 100 percent for all 19 audited coins. According to the...
Gracy Chen, CEO of cryptocurrency exchange Bitget, announced on September 30th that the value of its user protection fund had reached $300 million (approximately 47 billion yen)... The post Bitget, which suffered a capital outflow, sees its protection fund recover to approximately 48.6 billion yen—achieving the promised level first appeared on NADA NEWS.
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