Virtual asset exchange Bitget, which has been compensating for losses since the hacking incident, has begun to re-secure its User Protection Fund. According to on-chain data, an additional 2,000 BTC (approximately $166 million) was deposited from Bitget's cold wallet to the User Protection Fund address within the last two hours. As a result, the total holdings in the wallet have increased to 2,484.71 BTC (approximately $206 million), surpassing the $200 million mark once again. Previously, Bitget CEO Gracy Chen and the management team announced that they would compensate for the entire hacking loss with their own funds and "replenish the protection fund to over $300 million within a week." This transfer of funds from the cold wallet is interpreted as a step towards fulfilling the management's promise to normalize the fund, contributing to alleviating market concerns about a bank run.
