Swiss bank shields Bitget institutions while retail funds freeze
- Bitget’s $387.5M wallet breach proves that "hot wallets" are just digital open doors for thieves. While retail users stare at frozen balances like confused meat wallets, Bitget quietly offered institutional clients a Swiss bank lifeline via Sygnum. It’s the classic crypto double standard: institutions get segregated, bankruptcy-remote collateral in Zurich, while you get a User Protection Fund denominated in volatile BTC and vague promises. Where's my cut? The exchange calls it "attention redistribution"; I call it selective custody. Until withdrawals resume, your on-exchange assets are merely IOUs with a UI. Keep your keys cold or stay poor.