Bitget Restores Protection Fund Above $300 Million After $388 Million Hack

Did Bitget fully restore its Protection Fund?

Yes. Bitget announced on September 30 that the fund was back above its committed minimum of $300 million.

Orbitrum Investor Impact

Why does the replenishment matter for Bitget?

It restores a dedicated loss-absorption buffer after the hack depleted it, reducing the amount of Bitget's broader capital that would need to absorb a future incident of smaller size.

Are customer balances and withdrawals affected?

Bitget says customer account balances were unaffected, and its phased withdrawal restoration was completed on October 2.

Could the Protection Fund alone cover another hack of the same size?

No. A fund just above $300 million is smaller than the approximately $388 million affected in the September attack. CEO Gracy Chen said Bitget also held more than $1 billion of capital outside the fund, but the interview did not establish how much was immediately available.

What remains unresolved after the hack?

Asset recovery remains limited and the investigation is continuing; as of October 6, Bitget's tracker showed about $1.07 million frozen, while the amount actually returned had not been disclosed.