Bitget Says Operations Returning to Normal as Protection Fund Reaches $309 Million

WHY IT MATTERS

When you keep cryptocurrency on an exchange, you are trusting that company to hold your funds safely — similar to keeping money in a bank. Some exchanges set aside a pool of money called a "protection fund," which works like an insurance reserve. If the exchange gets hacked or loses funds, the protection fund is supposed to help pay users back. Bitget says its protection fund has reached $309 million, but it is important to understand that such claims are made by the exchange itself and are not always independently audited. This story is a reminder that storing crypto on any exchange carries risk, and that security incidents remain a recurring challenge in the industry.