Bitget Alliance Program Reward Pool Surpasses $1.9 Million After Massive Hack

Bitget, a Seychelles-registered cryptocurrency exchange, has seen its Alliance Program reward pool exceed $1.9 million in just three days. The program was implemented after a massive security breach on September 24 that resulted in losses of over $387.5 million.

The exchange's CEO, Gracy Chen, said the program is 'our way of saying thank you' to users, who have been affected by the hack. The Alliance Program ties 30% of trading fee revenue to user rewards, with 60% allocated to a trading reward pool and 40% to an asset reward pool.

The pool's growth is a testament to Bitget's efforts to rebuild trust after the security incident. As part of the program, eligible users will receive rewards in Tether (USDT), a stablecoin designed to hold a value of one US dollar.