Bitget Restores Protection Fund Above $300M After Hack
- —Fund restored above $300M after covering $388M in losses
- —Reserve ratio for all 19 assets topped 100% in the Sept. 30 report
- —Withdrawals resuming in stages; Mandiant and SlowMist investigating
- —Protection Fund, launched in 2022 with 5,500 BTC, is separate from client reserves
Why it matters: Restoring the fund and keeping reserves above 100% eases the risk of further outflows from the exchange after one of the year's largest hacks.
Source: BeInCrypto RU