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Bitget Moves 2,042 BTC Into Hot Wallet After Reopening Withdrawals
The transfer came from a 5,500-BTC protection fund, with 3,457.72 BTC still remaining on-chain.
Mentioned assets
Bitget has transferred 2,042.28 Bitcoin (BTC), worth about $169 million, after reopening its BTC withdrawal channel, moving part of a protection fund into its hot wallet to handle withdrawals.
The transfers were made in batches from a 5,500-BTC reserve. A further 3,457.72 BTC remains on-chain.
The amount moved should not be treated as the confirmed volume of BTC withdrawn by customers. The reserve was transferred ahead of potential withdrawals, so the on-chain movement and user withdrawal activity are separate measures.
Bitget’s reopening of BTC withdrawals and the movement of the reserve mark the latest stage in restoring access to the asset.
