Press Enter to search · ESC to close

Crypto DeFi

Bitget Raises Hack Estimate to $387.5M as Token Accounting Widens

Bitget has raised its estimate of losses from a hack to $387.5 million after widening its token accounting to include Zcash and TRON assets. XRP and ether dominate the identified outflows, and withdrawals remain paused at the exchange.

Original source

AI take

The revised figure matters less than the accounting change behind it: widening the tally to Zcash and TRON implies the initial estimate undercounted the assets involved, which is a disclosure-quality issue as much as a security one. With XRP and ether dominating outflows and withdrawals still paused, the immediate pressure falls on Bitget's remaining users, who are locked out while the exchange reconciles its books. Whether the estimate stabilizes or expands again as more chains are reviewed is the open question.

Generated by AI for reference only.

Share

Related News

TREE NEWS share card
Long-press image above → Save to Photos / Share
Pitch us Feedback