Topic Archive

#User Protection Fund

4 Stories Found

Coins•Sep 26, 2026

Swiss Bank Shields Bitget Institutional Clients as Retail Funds Remain Frozen

Key Highlights Bitget confirmed a Sept. 24 wallet breach that transferred approximately $387.5 million in assets to attacker-controlled addresses, affecting hot and warm wallet layers while cold wallets remained secure. Sygnum Bank’s Protect service offers Bitget institutional clients an off-exchange custody route where pledged collateral—including Bitcoin, Ethereum, stablecoins, and U.S. Treasuries—is held in segregated, bankruptcy-remote ...

5 min readRead

Coins•Sep 25, 2026

Circle and Tether Freeze Hacker Wallet After Massive Bitget Crypto Heist

Key Highlights Circle and Tether froze approximately $318,000 in stablecoins (218,023 USDT and 99,990 USDC) held in a wallet labeled “Bitget Exploiter 8” on Etherscan, linked to Thursday’s $351.6 million Bitget exchange hack. The frozen assets represent a small fraction of the total haul; blockchain analytics firm MistTrack confirms other exploiter addresses still hold over ...

3 min readRead

Coins•Sep 24, 2026

Bitget Freezes Withdrawals After $351.6M Hack

Key Highlights Bitget confirmed a $351.6 million exploit from its hot wallets on September 24, 2026, with on-chain data showing the first unauthorized transfer at 18:31:11 UTC and major outflows continuing for nearly three hours before the public notice. The attacker rapidly converted freezable stablecoins (USDT, USDC, Tether Gold) into ether via a router contract, ...

6 min readRead

Coins•Sep 24, 2026

Bitget CEO Confirms Hack, Reveals Massive Losses; Withdrawals Suspended

Key Highlights Cryptocurrency exchange Bitget detected unauthorized transfers from hot wallets totaling approximately $351.6 million on September 24, 2026, at 18:31 UTC. Cold wallets remain secure and the loss is fully covered by Bitget’s User Protection Fund, which holds over $464 million in assets. Withdrawals are temporarily suspended as a precaution; deposits and trading continue ...

4 min readRead