other
Reserve fund held by the Bitget exchange to compensate customers for losses such as thefts.
No evidence-backed relationships are recorded.
Bitget will repay the $387.5 million drained from its hot and warm wallets out of a user protection fund of just over $464 million. Customers are made whole, and the reserve left behind would cover only about a fifth of another loss that size.
Reality
Bitget's attacker withdrew $1.23 million from Binance into a wallet linked to a breach now put at up to $387.5 million. For Bitget customers the exposure stays with Bitget, whose $464 million protection fund covers the loss with at least $76.5 million to spare.
Reality
Bitget's $351.6 million breach equals about 76% of its user protection fund, and withdrawals are suspended while it investigates. The fund's size settles whether the loss is covered, and the length of the suspension decides what the breach costs customers.
Reality