Did Bitget’s Hack Expose the Fatal Limits of CEX Security?
Bitget said it replenished its protection fund to 3,705 BTC, with the fund listed at $316 million. It also said its reserve ratio across 19 major assets was 131%. The related coverage frames these figures against the broader debate over exchange security and whether major breaches are becoming less common.
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Users and other exchange customers notice this first as a change in the numbers tied to Bitget’s backing. The protection fund was listed at 3,705 BTC and $316 million, so the immediate effect is that the exchange is presenting a larger stated buffer than before.
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