Bitget said on Sept. 30 that it had restored its Protection Fund to more than $300 million after the vehicle absorbed approximately $388 million in impact from the Sept. 24 security breach. The exchange stated that customer balances remained accurate and unaffected throughout the incident.

The replenishment fulfills a Sept. 28 pledge to return the fund to at least $300 million within a week. Bitget completed the restoration two days after that commitment. The announcement does not quantify the new capital contributed, and the exchange's fund page values the vehicle using prices at midnight UTC each day.

Bitget describes the Protection Fund as a safeguard separate from the reserves that back customer account balances. Its latest proof-of-reserves report, covering a snapshot taken at 09:00 UTC on Sept. 29, shows an overall reserve ratio of 131% across 19 covered assets, with each asset above 100%.

What does the restored backstop cover?

Under Bitget's published fund conditions, users may submit claims when:

• accounts are compromised;
• assets are stolen;
• assets are lost through platform-wide events not attributable to the user's own actions or trading behavior.

The exchange retains the right to assess claims and investigate affected accounts or assets, with outcomes subject to its findings. Eligibility to submit a claim does not guarantee reimbursement of a particular loss. The reported replenishment does not remove that assessment process, nor does it establish that compensation has been completed.

The distinction matters in the wider context of exchange solvency disclosures. A 2023 advisory from the PCAOB's Office of the Investor Advocate noted that proof-of-reserves reports are not audits, may omit liabilities or borrowed assets, and cannot assure subsequent asset availability. Bitget's reserve figures, like all such reports, represent a snapshot rather than a continuous attestation.

When do withdrawals fully reopen?

Withdrawal access is following its own asset and network timetable, separate from the fund restoration. Bitget's Sept. 30 service notice confirmed that USDT withdrawals opened on Ethereum, BSC, Solana and Tron.

The exchange's incident timetable schedules the remaining services — other cryptocurrencies, fiat, and peer-to-peer functionality — for Oct. 2 at 08:00 UTC. Customers awaiting those services face a milestone distinct from the fund replenishment the exchange has already reported.

Operationally, the sequence signals that Bitget is prioritizing demonstrable balance-sheet coverage before restoring full service breadth. The staggered reopening of withdrawal rails across four networks first, with the remainder two days later, gives the exchange a controlled window to monitor outflows while its claims process under the Protection Fund remains in progress. Whether the restored fund and 131% reserve ratio hold under withdrawal demand after full services resume will be the key operational test in the days following the Oct. 2 deadline.