Bitget disclosed that $387.5 million was transferred to attacker-controlled addresses during a wallet breach on Sept. 24. Withdrawals remained suspended through Sept. 25 while deposits and trading continued. Sygnum, a Swiss bank, announced on the same day that Bitget’s institutional clients could trade against collateral held in its own vaults, outside the exchange’s wallets. Bitget’s protection fund, valued at over $464 million and comprising 5,500 BTC, is meant to cover eligible losses, though its dollar value fluctuates with Bitcoin’s price.
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