Bitget Hot Wallet Had an Issue
About $352 million was transferred out
Cold wallet is fine
The official says the insurance fund can cover it
Withdrawals are stopped
Trading and deposits are still available
The attack went through the backend and created a transfer
Not that the key was directly stolen
As for the market...
$BTC is still trading around 8.41
Liquidations are flat all day
No sign of a major panic sell-off
My take:
This is a hot wallet risk-control alert
A signal to the whole market that things could fall apart
Don’t take the “protected by the insurance fund” as a reason to hold an oversized position casually
Big cold funds—think
#大盘 #BTC
About $352 million was transferred out
Cold wallet is fine
The official says the insurance fund can cover it
Withdrawals are stopped
Trading and deposits are still available
The attack went through the backend and created a transfer
Not that the key was directly stolen
As for the market...
$BTC is still trading around 8.41
Liquidations are flat all day
No sign of a major panic sell-off
My take:
This is a hot wallet risk-control alert
A signal to the whole market that things could fall apart
Don’t take the “protected by the insurance fund” as a reason to hold an oversized position casually
Big cold funds—think
#大盘 #BTC
