Bitget says $464M protection fund will cover hot wallet losses
- —Bitget's protection fund holds 5,500 BTC, about $464 million
- —Losses from the hot wallet incident will be covered by the fund
- —Fund addresses are publicly verifiable on-chain
- —Compensation details and terms will be announced later
Why it matters: The statement signals the exchange will reimburse users, easing the risk of withdrawals after the breach.
Source: PANews