đš BITGET HACK: $351M â $387.5M
The number just got bigger.
Bitget now says approximately $387.5 MILLION in assets were transferred to attacker-controlled addresses.
But hereâs the part crypto users should watch đ
đ§ Cold wallets reportedly remained untouched
đ The incident was contained
đ° Bitget says its $464M+ User Protection Fund covers the loss
đ”ïž Some affected funds have already been frozen
â ïž But the full $387.5M has NOT been recovered yet
So will users get their money back?
Bitget says user balances are protected and the loss falls within its protection fund. The actual recovery of stolen assets is still ongoing.
And this is where Binance's security model deserves attention.
đĄïž Binance SAFU = $1 BILLION USDC as of January 2026.
Binance also states that customer assets are backed 1:1, with SAFU maintained as an emergency fund for extreme events such as hacks/security breaches.
The lesson isn't âexchanges can't be hacked.â
They can.
The real question is:
WHEN something goes wrong, does the exchange have the reserves, infrastructure and protection mechanisms to make users whole?
Bitget is now being tested.
Binance has built SAFU specifically for this kind of extreme scenario.
đ If you had $100K on an exchange, what matters more to you?
A) Lowest fees
B) Security + proof of reserves
C) User protection fund
D) I don't keep $100K on exchanges đ
Comment A/B/C/D.
#Binance #Bitget #Crypto #Bitcoin #SAFU #CryptoSecurity
The number just got bigger.
Bitget now says approximately $387.5 MILLION in assets were transferred to attacker-controlled addresses.
But hereâs the part crypto users should watch đ
đ§ Cold wallets reportedly remained untouched
đ The incident was contained
đ° Bitget says its $464M+ User Protection Fund covers the loss
đ”ïž Some affected funds have already been frozen
â ïž But the full $387.5M has NOT been recovered yet
So will users get their money back?
Bitget says user balances are protected and the loss falls within its protection fund. The actual recovery of stolen assets is still ongoing.
And this is where Binance's security model deserves attention.
đĄïž Binance SAFU = $1 BILLION USDC as of January 2026.
Binance also states that customer assets are backed 1:1, with SAFU maintained as an emergency fund for extreme events such as hacks/security breaches.
The lesson isn't âexchanges can't be hacked.â
They can.
The real question is:
WHEN something goes wrong, does the exchange have the reserves, infrastructure and protection mechanisms to make users whole?
Bitget is now being tested.
Binance has built SAFU specifically for this kind of extreme scenario.
đ If you had $100K on an exchange, what matters more to you?
A) Lowest fees
B) Security + proof of reserves
C) User protection fund
D) I don't keep $100K on exchanges đ
Comment A/B/C/D.
#Binance #Bitget #Crypto #Bitcoin #SAFU #CryptoSecurity