Though Bitget has frozen withdrawals, the exchange has stated that user funds are safe thanks to their $464M protection fund.
On-chain trackers only see about $183M leaving. Nearly all of it is now $ETH, with rumours that North Korean hackers are behind the hack.
Despite the hack, the market hasn't reacted badly, and this is due to the exchange's user protection funds and their early communication.
Bybit has come out to provide support, as they have also received similar support from Bitget earlier this year.
Thanks to the advancement of the crypto industry, things like this would have created a bearish trend in the past.
#ETH #Bitget
On-chain trackers only see about $183M leaving. Nearly all of it is now $ETH, with rumours that North Korean hackers are behind the hack.
Despite the hack, the market hasn't reacted badly, and this is due to the exchange's user protection funds and their early communication.
Bybit has come out to provide support, as they have also received similar support from Bitget earlier this year.
Thanks to the advancement of the crypto industry, things like this would have created a bearish trend in the past.
#ETH #Bitget
