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Bitget Wallet COO urges clearer transaction and recovery controls after $387.5M Bitget Exchange hack

Market News
06 Oct 2026
Crypto news
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Bitget Wallet COO urges clearer transaction and recovery controls after $387.5M Bitget Exchange hack

Following Bitget Exchange's $387.5 million breach, Bitget Wallet COO Alvin Kan called for clearer transaction permissions and wallet recovery controls to protect users. He emphasized that self-custody wallets should limit damage from single security failures without requiring users to be security experts. Bitget Wallet, a separate self-custodial service, was unaffected by the hack. Regulatory bodies like ESMA and the SEC are also reviewing custody controls to improve security and transparency in crypto asset management.

The Bitget Wallet COO's call for safer self-custody follows a major exchange breach. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 07, 2026 01:12 WIB: Among 50 major cryptocurrencies, 24 rose and 25 fell today. THETA gained 4.20% to Rp4.271 with a typical hold time of 77 days and 100% sell order activity, contrasting with BAT which dropped 4.13% to Rp1.834 and saw 74% buy orders over 93 days hold time. COTI fell 3.31% to Rp244, with a longer hold time of 121 days and a majority 58% sell order activity.

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