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Bitget CEO live-streamed a response to the platform's first security incident in eight years: the attack originated from a vulnerability in a third-party security product, and the losses will be covered by the user protection fund

In today's community live broadcast, Bitget CEO Gracy responded to recent security incidents and the platform's financial status. She candidly stated that this is the first security incident encountered since Bitget was established 8 years ago. After a complete trace, it was found that hackers exploited vulnerabilities in third-party security products to steal internal network access credentials, forged withdrawal commands to the wallet system, and deceived the wallet into executing abnormal transfers that bypassed risk checks. Gracy emphasized that no private keys were leaked, and cold wallets were unaffected; specific technical details will be disclosed in the formally released security report.Gracy pointed out that the verified losses from this incident are within the coverage of the protection fund, and user funds are not affected. The platform's own funds exceed $1.4 billion, which includes approximately $464 million in the user protection fund. The platform will continue to uphold the security commitments made when the protection fund was established in 2022, planning to replenish the fund to the baseline of $300 million within a week."The protection fund is not just a slogan, but an important mechanism that provides tangible security for users in the event of extreme security incidents," Gracy stated. In the face of sudden security challenges, the platform's comprehensive strength and its ability to take responsibility are important criteria for measuring its risk response capability and long-term credibility. Bitget will continue to uphold its long-term commitment to prioritize user interests.

The socialized Meme trading platform Baola has received investment from Gate Ventures and is currently in the internal testing phase

Recently, the socialized Meme trading platform Baola, strategically invested by Gate Ventures, has entered the product internal testing phase. Baola is positioned as a socialized trading platform aimed at the Meme market, exploring the combination of social content and Meme trading around aspects such as hot topic discovery, market information tracking, community interaction, and trading participation.According to the official introduction, Baola's brand proposition is "Your next Meme is on Baola," aggregating information such as popular calls, KOL dynamics, on-chain trading data, and community interactions. Users can view Caller, the number of token mentions, market capitalization at the time of the call, and subsequent peak performance, and discover active market participants through features like KOL rankings and Callout boards, gaining insights into market hotspots and participant performance from multiple dimensions.In terms of community interaction, Baola supports users in independently publishing calls and market opinions, and allows them to continuously follow interested Callers through Follow. The platform also combines KOL public calls with on-chain trading dynamics, providing information on historical calls, recent performance, and buying and selling behaviors, further linking opinion sharing, hot topic discovery, and trading participation. Currently, Baola has entered the product internal testing phase and is continuously improving the socialized trading experience in the Meme field. Users can visit the official website (https://bao.la/) for more details.

first_img The trading platform Pear will migrate to PEAR on October 12

The trading platform Pear announced that the token PEAR will open the migration portal on October 12, allowing users to exchange PEAR on Arbitrum for new tokens on HyperEVM at a 1:1 ratio within the Pear app. The migration is a one-way operation; once completed, the old tokens will be locked and cannot be transferred back to Arbitrum. Users need to prepare a small amount of ETH on Arbitrum to pay for Gas and cross-chain fees. After migration, the tokens can be transferred between HyperEVM and Hyperliquid spot, with liquidity subsequently launched in both locations.Pear stated that users holding stPEAR do not need to take any action, as staking will be automatically rebuilt on HyperEVM; holders still in the vesting period can claim and migrate their tokens after they are unlocked. The portal will remain open until September 28, 2027, with a buffer period. Currently, the PEAR listed on Hyperliquid spot is unrelated to the official platform; users can only migrate through the official Pear website and should only trust the contract addresses published through official channels.PEAR will begin trading on September 27, 2024. Pear claims that the platform has expanded from a paired trading terminal to institutional trading desks, AI trading agents, and vaults, with a cumulative trading volume exceeding $2 billion and cumulative fees of $1.3 million. In January of this year, token holders passed PIP-3 with over 99% support, stipulating that 70% of Pear's total revenue will be used for repurchasing and burning PEAR and supporting liquidity, while 30% will go to the team.
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