Bitget fully covers $388 million hack losses
- —Hack losses totaled about $388 million, fully covered by the company
- —Attack began via an unknown flaw in an external security product
- —User protection fund was refilled above $300 million within a week
- —Reserve ratio stood at roughly 131% after the incident
Why it matters: The case shows exchanges can absorb large losses without hitting clients, but third-party vendor risk remains a key exposure.
Source: TokenPost