Bitget Boosts Breach Loss Estimate to $387.5 Million

Bitget has increased its estimated losses from a recent security breach to $387.5 million, up from an initial estimate of $351.6 million.

The exchange's CEO Gracy Chen said the revised figure reflects a more complete accounting of transfers made during the incident, including Zcash and TRON assets that were not included in the original estimate.

No further unauthorized transfers have occurred since the incident was contained, and Bitget has launched a Recovery Bounty Program aimed at freezing and recovering stolen assets. Participants can receive 5% of funds they help freeze and another 5% of funds they directly help recover.