Bitget reports 131% total reserve ratio in latest update
Summary
Bitget has announced a total reserve ratio of 131% in its latest Proof of Reserves update, which encompasses 19 assets. The exchange assured users that its security incident on September 24 did not impact its reserves, with user assets exceeding the 100% reserve benchmark. Bitget's transparency practices include monthly Proof of Reserves reports that utilize Merkle tree-based verification to allow users to independently verify their assets. Following the September security incident, the exchange successfully employed its dedicated protection fund to cover losses while ensuring that cold storage remained unaffected.
Analysis
Bitget: Bitget operates as a cryptocurrency exchange and Universal Exchange platform supporting trading in digital assets along with other instruments. It has maintained a program of regular Proof of Reserves disclosures since late 2022, recently expanding coverage to more assets and enhancing user verification tools. The latest update follows a September 2026 security incident, confirming that reserves continued to back covered user assets above the required benchmark. Security Measures: Following the late September security incident involving hot wallets, Bitget relied on its dedicated protection fund to cover losses while keeping cold storage unaffected and resuming withdrawals in stages. Transparency Practices: Bitget publishes monthly Proof of Reserves reports that include Merkle tree-based verification allowing users to independently confirm their asset inclusion.
Categories
cryptobase
Related sources
- https://thehackernews.com/2026/09/bitget-says-attacker-exploited-third.html
- https://www.bitget.com/academy/bitget-proof-of-reserves-expands-for-8th-anniversary
- https://www.bitget.com/support/articles/12560603895370
- https://pro.edgex.exchange/en-US/news/article/bitget-8th-anniversary-proof-of-reserves-expansion
- https://x.com/i/status/2105039889947349407
- https://u.today/bitget-expands-proof-of-reserves-coverage-to-19-crypto-assets
- https://www.bitget.com/blog/articles/september-2026-proof-of-reserves-131-percent
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- https://quant-nova.com/en/articles/bitget-proof-of-reserves/
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- https://www.theblock.co/news/markets/2026-09-24-more-than-170-million-in-crypto-moves-from-bitget-wallets-unidentified-address-416345
- https://www.ft.com/content/14aed3cb-492e-45c1-b217-869790b6130d?syn-25a6b1a6=1
- https://www.bitget.com/support/articles/12560603894723