Bitget: The losses are borne by the protection fund, which holds 5,500 BTC, which is approximately US$464 million.

PANews reported on September 25 that Bitget officially tweeted to explain the status of the protection fund. The fund holds 5,500 BTC, which is approximately $464 million at the current price, and all wallet addresses are public and can be verified on-chain at any time. The fund is specifically designed to respond to platform-level threats such as cybersecurity incidents to protect user assets. Bitget said that after evaluation, the losses caused by this hot wallet incident will be borne by the protection fund and the fund will be replenished. Specific details and compensation terms will be announced separately.

PANews reported on September 25 that Bitget officially tweeted to explain the status of the protection fund. The fund holds 5,500 BTC, which is approximately $464 million at the current price, and all wallet addresses are public and can be verified on-chain at any time. The fund is specifically designed to respond to platform-level threats such as cybersecurity incidents to protect user assets. Bitget said that after evaluation, the losses caused by this hot wallet incident will be borne by the protection fund and the fund will be replenished. Specific details and compensation terms will be announced separately.