Bitget Says $464 Million Fund Covers Attack Losses as Withdrawals Resume
The exchange is restoring withdrawals in phases as affected blockchains complete repairs and security validation, with Bitcoin withdrawals already open.
Bitget is restoring withdrawals in phases as each affected blockchain completes repairs and security validation, and it says its $464 million protection fund can cover the attack's losses.
Bitcoin (BTC) withdrawals began at 4:11 a.m. ET (08:11 UTC) Monday.
Each blockchain must complete repair and security validation before withdrawals reopen for the related assets. The suspension was described as unrelated to whether Bitget had sufficient funds.
Bitget's publicly disclosed proof of reserves showed 127% coverage. The phased schedule is the next step in restoring withdrawal access following the security incident.
