Bybit CEO Offers Bitget Help After $351.6 Million Security Incident
Bitget is repairing its systems, investigating unauthorized transfers and preparing to resume withdrawals after confirming security.
Bybit CEO Ben Zhou offered Bitget assistance after unauthorized transfers left the exchange facing an estimated $351.6 million loss, with withdrawals still paused during security repairs.
Bitget previously reported a $351.6 million loss from unauthorized transfers. The exchange is focused on repairing its systems and will resume withdrawals after confirming that they are secure. No reopening time has been set.
Bitget has commissioned a third-party security team to conduct an independent forensic investigation. The review will examine how the attack occurred, validate remediation measures and support cooperation with law enforcement.
Bitget’s protection fund exceeds $464 million and can cover the preliminary loss estimate. Bybit previously received assistance from Bitget after a security incident, prompting Zhou’s offer of support.
