Bitget Unveils Four-Week Reward Pool Worth 30% Of Net Fee Revenue
Bitget, a cryptocurrency exchange affected by a security breach in early September, has launched a four-week reward pool worth 30% of its net fee revenue. The program aims to compensate users who stuck with the platform despite the incident.
The Alliance Program started on September 28 and will run until October 26. Eligible users, including futures, spot, and stocks traders, will receive rewards calculated weekly and paid in Tether (USDT). The distribution will be based on a 60-40 split between trading activities and platform holdings.
A minimum of 100 USDT applies to participate in the program, along with caps and regional restrictions. Additionally, Bitget is issuing 30-day passes for VIP1 through VIP7 users, ensuring they retain their tier benefits until October 26.
Chief Executive Gracy Chen acknowledged the support shown by users and partners, stating that trust is earned 'especially when things are difficult.' The reward pool is separate from the company's ongoing recovery efforts. Bitget was hacked on September 24, with an attacker exploiting a flaw in a third-party security product to obtain internal credentials and initiate fraudulent withdrawals worth around $388 million.