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Wednesday, Sep 30, 2026

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Bitget Restores User Protection Fund Above $300M After $387.5M Hack↩︎

Bitget replenished its user protection fund to more than $300 million, completing the restoration two days after pledging to do so within a week following a $387.5 million hack. The crypto exchange has committed to covering customer losses regardless of whether the stolen funds are recovered.

The exchange recorded $231 million in deposits in the 24 hours reported on Sept. 30, compared with an August daily average of $245 million. That followed roughly $463 million in net outflows in the 24 hours into Sept. 29. Bitcoin withdrawals reopened on Sept. 28 and Ether withdrawals the next day. USDT withdrawals were scheduled to resume Sept. 30, with all assets available by Oct. 2.

CEO Gracy Chen said attackers exploited a zero-day vulnerability in a third-party security product to steal internal credentials and issue fraudulent withdrawal commands, rather than compromising wallet private keys. She said she was “not very optimistic” about recovering much of the stolen money. NEAR Intents froze roughly $503,000 during attempted transfers, pending legal and recovery procedures, and waived its share of the recovery bounty.

Image via @wublockchain on X
Continues from Monday, Sep 28
Bitget Draws $231M in Daily Deposits After $387.5M Hack
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