✉news TechnologyCybersecurity first seen 1 h ago, last 6 min ago, peak #31
Bitget Raises Breach Estimate to $387.5 Million
Original: Bitget Raises Breach Estimate to $387.5 Million as IPO Plans Continue
Crypto exchange Bitget has increased its estimate of losses from a security breach to $387.5 million, up from an earlier figure. The company says its plans for an initial public offering are continuing despite the incident. The revised number has drawn attention in crypto and financial circles, with observers weighing the size of the loss against the exchange's push toward going public.
Why now: The significantly larger revised loss estimate from a major exchange, disclosed while it pursues an IPO, is newsworthy for crypto markets.
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