when thorchain got drained in 2021, the network halted within hours. when thorfi went underwater in jan 2025, nodes voted to freeze withdrawals overnight.
"decentralized and permissionless" seems to apply only when it's other people's money.
a sanctioned state already used you to move over $1b from bybit. at some point regulators won't care what you call yourself.
I'm staying calm. No panic, no withdrawals I'm waiting for Bitget's official updates.
A breach affected Bitget's hot wallets, and the estimated loss is around $350M.
The important part is what happened next: withdrawals were paused immediately, the attackers were identified, law enforcement was involved, and the team has committed to hourly updates plus a full report within 24 hours.
What keeps my confidence is that Bitget's $464M Protection Fund is larger than the reported loss, and both the Protection Fund and Proof of Reserves are publicly verifiable on-chain.
I've used Bitget for a while, and one reason I stay is how they communicate during critical moments instead of going silent.
I'll judge this by transparency and follow-through, and so far they're continuing to update users.
I have got a lot of my funds on Bitget, so obviously I was concerned when I saw the hack news.
But seeing the protection fund and the way the situation is being handled, I’m not going to panic and start moving my funds around.
Around $351M was stolen, while Bitget’s User Protection Fund has more than $464M. That’s more than the amount stolen.
I’m also a Bitget Builder, so I have been using the platform for a long time. I’m trusting the team to deal with this properly and keep users updated.
And honestly, this isn’t something completely new for crypto. Bybit went through a much bigger hack last year and managed to recover from it.
Crypto has had incidents like this before. Let’s see how Bitget handles this one.
We stand with @bitget 🩵
@ZetoshiX@bitget Stop creating panic when there is still no need for it. This post of yours xan couse massive withdraws and that might be your intention
As a Bitget Builder and someone who actually uses the platform for over a year now, I’m not panicking or rushing to withdraw after the security incident, because @Bitget has already acknowledged what happened, taken immediate action by pausing withdrawals only as a PRECAUTION, and is continuing to share updates while the investigation is ongoing.
According to Bitget’s initial report, unauthorized transfers affected 19 hot wallets with up to $351.6 million in funds involved, while cold wallets were not affected, and this is also exactly why safeguards such as its Protection Fund exist in the first place, with the fund currently valued at around $464 million alongside the exchange's publicly verifiable Proof of Reserves.
What matters most right now is how the situation is being handled, and instead of staying silent, Bitget officials have been communicating with its users, coordinating with authorities, investigating the attackers, and preparing a more complete incident report within 24 hours.
I have used the platform long enough to know that negative moments like this are when transparency and preparation matter most, so I’m staying calm, following updates from official Bitget channels, and waiting for the full report before jumping to conclusions based on rumors or fear.
I know there are still many questions that need answers, but for now I’m choosing facts over panic. I recommend checking Bitget’s official updates first, since they address the questions directly as more information becomes available.
> Bitget Protection Fund: https://t.co/uvppLsosIz
> Proof of Reserves: https://t.co/LRTEkrfUEz
#StandWithBitget
@wilson_ That same question i have rn ,where would i even move my crypto from bitget once withdrawal is open. I used tangem and bitget. But if there is security issue on tangem and my wallet got drained I dont think tangem will do anything in difference to bitget
@GracyBitget@SherryAtCrypto People should stop whining, you held for months assets now you need to withdraw asap. Wait a little bit and give a chance to investigate issue first and solve it. I also have a lot on bitget but you cant just like that enable withdraw and give attacker chance to pull out more
We stand with @bitget and its users after the recent incident.
Our security team has been working closely with their side since it was detected, sharing intelligence, tracing funds, and supporting recovery.
In moments like this, the industry unites against the attackers. The work continues.