Bitget CEO Gracy Chen doubts much of the $387.5 million stolen via a backend tied to a third-party security vendor will come back. So far about 0.2% of the loss has been frozen, so the exchange itself is paying for an outsourced security flaw.
Perspective Coverage
4 publishers
- Builder
- Builder 25%
- Operator
- Operator 41%
- Investor
- Investor 34%
Reality
- Evidence68
- Adoption
- Insufficient
- Hype gap+5
- Incentives55
- Confidence70
Bitget customers pulled about $463 million in the first 24 hours after withdrawals reopened, more than the $388 million hackers stole on September 24. The protection fund covers the theft with about $76 million to spare, so the withdrawals now test whether the $5.7 billion left in reserves matches what Bitget owes customers.
Reality
- Evidence60
- Adoption
- Insufficient
- Hype gap+12
- Incentives58
- Confidence58
The exchange reports $5.36m of reserves, most of it its own token, against CoinMarketCap volume of $272.6m. The proof-of-reserves report it promised in May is now 90 days late.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+45
- Incentives60
- Confidence50
Binance bought $100 million of Circle stock and signed to promote USDC through September 2031. Customer USDC balances on the exchange are up fivefold at $7.13 billion; the USDT balance is up $10.9 billion.
Perspective Coverage
14 publishers
- Builder
- Builder 12%
- Operator
- Operator 42%
- Investor
- Investor 46%
Reality
- Evidence76
- Adoption58
- Hype gap+22
- Incentives82
- Confidence72
The nine-year-old exchange is closing on costs while saying its reserves cover more than 100% of customer balances, and it will buy back leftover CET at 0.005 USDT a coin before withdrawals shut on December 22, 2026.
Reality
- Evidence45
- Adoption62
- Hype gap+25
- Incentives70
- Confidence55
BitMart has let a funded $10 million offer to bankroll its own bankruptcy sit unanswered for 27 days, and the reserves it reports on itself come to $5.36 million, most of that in a token it issued.
Reality
- Evidence36
- Adoption22
- Hype gap+28
- Incentives79
- Confidence41
A licence certifies anti-money-laundering paperwork, not the existence of the coins. Estonia's own regulator said so, roughly three months after users lost access.
Reality
- Evidence46
- Adoption71
- Hype gap+14
- Incentives63
- Confidence48
The exchange promised proof of reserves on May 23 and has not delivered it. Its founder now says he will take his own staff's unpaid-wage claims to the police.
Reality
- Evidence54
- Adoption48
- Hype gap+42
- Incentives72
- Confidence57