Bitget PoR hits 131% after hack with USDT still at 107% ahead of reopen
By Crypto Wire
September 29, 2026
Bitget has posted its 47th Proof of Reserves update—the first full platform PoR print after the September 24 hot/warm-wallet drain—showing an overall reserve ratio of 131% on a snapshot taken at 09:00 UTC September 29. The exchange’s official blog (Victoria, Seychelles, dated September 30, 2026) says every one of the 19 covered assets cleared the 100% benchmark, and CEO Gracy Chen frames the print as users being able to “see the numbers for themselves.” This is a new Bitget Watchlist chapter after the DefiLlama ~$463 million net-outflow day (10337) and the ETH reopen (~651 ETH first-hour net inflow, 10330)—not a silent edit of those URLs.
What the asset table actually prints. Bitget lists reserve ratios of 181% for NEAR, 172% for XAUT, 169% for USDGO, 157% for SOL, 155% for ADA, 154% for USDC, 153% for SUI, 146% for TAO, 142% for BTC and HYPE, 137% for LINK, 131% for LTC, 130% for DOGE, 122% for ONDO, 110% for ETH, 109% for PI, 107% for USDT and XRP, and 104% for BNB. For a Stablecoin Settlement desk, the USDT line matters most ahead of the scheduled 08:00 UTC September 30 USDT reopen across Ethereum, BSC, Solana, and Tron: coverage is still above one-to-one at 107%, but it is the thinnest of the major dollar stables on the sheet (USDC sits at 154%).
How to read PoR beside the outflow tape. A reserve ratio compares assets held against covered customer balances at one snapshot; it is not a denial of Bloomberg/DefiLlama’s ~$463 million one-day net exit into Tuesday already covered in 10337. CryptoTimes’ September 30 wrap of the same print likewise separates the 131% coverage claim from the outflow day and from Protection Fund burn (~below $200 million after covering part of the ~$387.5 million breach, per earlier desk chapters). Treat the three meters as different instruments: PoR = balance-sheet coverage at 09:00 UTC September 29; DefiLlama = flow after reopens; Protection Fund = emergency buffer for the theft itself.
Chen’s quote and the verification claim. “Proof of Reserves matters most when users want to see the numbers for themselves,” Chen said in the blog, pointing to Merkle-tree verification so users can confirm inclusion of their own assets. Bitget says this September update follows an earlier expansion of PoR coverage from four cryptocurrencies to 19 major assets. Attribute those as company claims; independent auditors are not named in the post reviewed here, and a 131% headline does not by itself prove that every liability class outside the “covered” set is fully reserved.
Why NFT and settlement desks care before the USDT clock. Collectors who park bids in USDT on Bitget will get a withdrawal path at 08:00 UTC September 30 if the published schedule holds—the dominant cash leg for exiting into NFT marketplace rails. A post-hack PoR that still shows USDT at 107% and the platform at 131% overall is the company’s answer to solvency questions ahead of that unlock; it does not cancel the record outflow day or the Protection Fund drawdown already on the tracker. Keep the clocks distinct: this LN owns the official 47th PoR print; USDT reopen remains a separate firing event once the window actually opens.
What this tick is not. It is not the USDT reopen itself (still ~two-plus hours out at publish), not GoPlus’s second Robinhood Chain factory (10347), and not a rehash of 10337’s DefiLlama outflow math alone. The unused primary is Bitget’s post-incident 131% / 19-asset PoR table with USDT at 107%.
Settlement watch: the next meter that matters is whether USDT withdrawals clear cleanly at 08:00 UTC September 30—and whether a follow-on PoR or DefiLlama print still holds overall coverage near 131% after that stablecoin unlock.
Bottom line: Bitget’s post-hack 47th PoR prints 131% overall with all 19 covered assets above 100%—USDT at 107%—so the next settlement test is whether that coverage still holds after the 08:00 UTC September 30 USDT unlock.
Disclaimer: This article is provided for informational and educational purposes only. It does not constitute financial, investment, legal, or trading advice. The NFT market is highly volatile, and past performance is not indicative of future results. Readers should conduct their own research and consult qualified professionals before making any decisions related to digital assets. The cover image for this article may have been created using artificial intelligence (AI).
