On the 25th, cryptocurrency exchange Bitget announced on its official X account that it will cover the assessed losses from an unauthorized outflow of approximately $351.6 million that occurred on the 24th using its user protection fund. This fund is held in Bitcoin (BTC) and amounts to 5,500 BTC, equivalent to approximately $464 million at current market value.
The estimated loss is roughly three-quarters of the current valuation of the fund. Bitget plans to replenish the used portion of the fund...