So What Happens After the $351M #Bitget Hack?
Bitget says the full loss from the theft will be covered by its Protection Fund. But what exactly is that fund?
Bitget launched it back in 2022 with an initial $300M, and later maintained the fund at 5,500 BTC. The idea is pretty simple ... an extra financial backstop for users if their assets are compromised or lost through events that aren’t their fault.
And now, after the hack, Bitget says the fund holds more than $464M, enough to cover the estim...