Security· ★★★★★· bearish·

Bitget hack: $463M outflow in first day, user protection fund cut to $200M

  • —About $463 million in BTC left Bitget in the first day after the hack
  • —User protection fund dropped from $464 million to $200 million
  • —Day two saw 9,674 ETH deposited against 9,023 ETH withdrawn, halting the outflow
  • —$503K frozen via Near and $318K in USDT/USDC blacklisted by issuers
Why it matters: A record outflow and a halved protection fund undermine confidence in exchanges and raise questions over who covers client losses.
#BTC#ETH#USDT
Source: BitNovosti
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