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Bitget Launches Four-Week Reward Pool Worth 30% Of Net Fee Revenue

Mehjabeen Arsiwala1 hour ago

Eligible users receive weekly USDT rewards from 30% of net fee revenue as Bitget recovers from its Sept. 24 breach (Image: Shutterstock)

Bitget will distribute a reward pool worth 30% of the net fee revenue it earns from eligible non-institutional users over four weeks, following a Sept. 24 security breach.

Bitget Reward Pool

The exchange's Alliance Program started Sept. 28 and runs until Oct. 26, with rewards calculated weekly and paid in Tether (USDT). Eligible futures, spot and stocks trading will determine 60% of the pool, while platform holdings decide the other 40%. A 100 USDT minimum applies, along with caps and regional restrictions.

Bitget is also issuing 30-day passes that let VIP1 through VIP7 users keep their tier benefits, with distribution due before Oct. 1. Those users will get dedicated relationship managers and VIP support for withdrawal and account requests.

Also Read: OpenAI Hits The Brakes On Frontier AI After Its Sept. 20 Sandbox Escape

Hack Recovery

Chief Executive Gracy Chen said users and partners had shown "an extraordinary amount of support" and the company wanted to give something back. "We know trust is earned through what we do, especially when things are difficult," she said. Bitget called the program separate from its recovery work.

According to Bitget, an attacker exploited a flaw in a third-party security product on Sept. 24 to obtain internal credentials, then sent fraudulent withdrawal commands that moved about $388 million out. The company says private keys, cold wallets and user balances were untouched, and it began reopening withdrawals Sept. 28, starting with Bitcoin (BTC).

Read Next: BlackRock Says Computing Power Is Headed For Futures Markets

Mehjabeen Arsiwala

Mehjabeen Arsiwala is a journalist covering crypto news, DeFi, exchanges, trading, and market analysis. Over the past three years, she has focused on the trends and narratives shaping digital asset markets, from price action and forecasts to exchange developments and on-chain signals. She specializes in clear reporting that helps readers understand what is happening in the market and why it matters.

Disclaimer and Risk Warning: The information provided in this article is for educational and informational purposes only and is based on the author's opinion. It does not constitute financial, investment, legal, or tax advice. Cryptocurrency assets are highly volatile and subject to high risk, including the risk of losing all or a substantial amount of your investment. Trading or holding crypto assets may not be suitable for all investors. The views expressed in this article are solely those of the author(s) and do not represent the official policy or position of Yellow, its founders, or its executives. Always conduct your own thorough research (D.Y.O.R.) and consult a licensed financial professional before making any investment decision.

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Bitget Launches Four-Week Reward Pool Worth 30% Of Net Fee Revenue | Yellow