A security breach at Bitget caused $388 million in user losses, according to a Cointelegraph report published on Sep 30, 2026. The exchange says its operations are gradually getting back to normal.
Bitget CEO Gracy Chen said the company's protection fund covered the financial impact of the incident. Bitget set up the fund in 2022, and the report says it now stands at $309 million.
The report does not explain how the breach happened, when it started, or which services were affected. It also does not say whether the $309 million figure is the balance after the losses were covered or before. It does not say when Bitget expects to be fully back to normal.
For anyone already holding a perpetual position on Bitget, the report changes nothing directly. It gives no information on funding rates, trading fees, order-book liquidity or open interest. The only relevant facts are that the exchange calls its operations 'gradually' normal, not fully normal, and that the CEO says users' losses were covered by the fund rather than passed on to them.
Source: cointelegraph — Bitget ‘gradually back to usual’ as protection fund reaches $309M