Security· ★★★· bearish·

Hyperliquid founder warned about Bitget problems back in 2023

  • —The $351.6 million Bitget hack occurred on the evening of September 24, withdrawals paused
  • —Jeff Yan said in 2023 that Bitget traded against clients through an internal desk
  • —Yan called the scheme unethical and likely illegal in any jurisdiction
  • —Bitget's user protection fund of over $464 million will cover the losses
Why it matters: The scandal heightens Bitget's reputational risk and renews scrutiny of order execution transparency at exchanges.
#BTC
Source: BeInCrypto RU
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