$388 million — that's the loss figure from Bitget's latest security incident. Rather than flipping withdrawals back on all at once, the exchange is opting for a phased rollout, and that sequencing alone says a lot about how these situations get handled in practice: lock down system stability first, then let funds start flowing normally again.
According to Bitget, the vulnerability behind the incident has already been patched. As for what users care about most — the losses — the exchange says its user protection fund will cover the full amount. In other words, the $388 million shortfall won't fall on affected users to bear.
That's where public information stops for now. Bitget has yet to detail the exact cause of the vulnerability, the precise timing of the attack, or the full schedule for restoring withdrawals in phases.
