The growing adoption of cryptocurrencies has made crypto exchanges, wallets and crypto companies an attractive target for cybercriminals, necessitating the need to elevate cybersecurity cryptocurrency to guarantee protection for everyone involved.
As an extra layer of security, Protection Fund is designed to safe-keep users' assets. While a few exchanges demonstrate commitment to fully secure user assets through this medium, Bitget's Protection Fund Valuation Report for the month of August 2024 is worthy of note.
Surmounting the high volatility of August, Bitget’s Protection Fund maintained an average valuation of $390.7 million, initially reaching a peak of $424.8 million on August 2, a significant rise from the original value of $300 million.
Through its transparent Protection Fund, Bitget’s consistent commitment to user security is laid bare–a breath of fresh air in an industry where insecurity remains a dire limitation.