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first_img Bitget updates on the security incident progress: the stolen amount is revised to 387.5 million USD, and the withdrawal recovery time will be announced before 12 PM tomorrow

Bitget TradFi Chief Growth Officer Xie Jiayin issued an update on the platform's security incident, stating that the withdrawal time will be announced before noon tomorrow. The security team has identified the hacker's attack path and methods, and has grasped the details of how the attacker bypassed security measures, coming very close to tracing the source of the attack. The incident investigation by third-party security teams Mandiant and SlowMist is still ongoing, with a detailed report pending from the security team.On-chain tracking confirms that approximately $387.5 million has been transferred to the hacker's address, previously estimated at $351.6 million. This revision includes ZEC and TRX, and no other unauthorized transfers have been found. Xie Jiayin stated that the stolen funds at the platform level will be fully covered by the Bitget User Protection Fund, ensuring that user assets are not subject to any losses.Bitget has officially launched a fund recovery bounty program, offering a 5% bounty for voluntarily freezing the attacker’s funds and a 5% bounty for voluntarily recovering funds. The bounty also applies to assistance already provided. The platform has published the attacker's address, a real-time tracking dashboard, and a submission portal, with relevant information also available for submission through Bybit's Lazarus bounty platform.

The Japanese Senate passed a revised version of the Financial Instruments and Exchange Act, applying a 20% tax rate on crypto assets and lifting the ban on ETFs

According to Japanese media reports, the Japanese Senate officially voted today to pass the revised "Financial Instruments and Exchange Act." This amendment marks the formal inclusion of crypto assets (virtual currencies) into the regulatory scope of financial products, no longer limited to the constraints of the "Funds Settlement Act" as a means of payment.In terms of regulation and investor protection, the new rules introduce an insider trading regulatory mechanism for the crypto market, while also accepting oversight from monitoring committees such as those for securities trading. Additionally, the law significantly increases the penalties for unlicensed operators, with the maximum sentence raised from 3 years to 10 years in prison, and the maximum fine increased to 10 million yen. This revised legislation is expected to be officially implemented by July 2027.In terms of taxation and investment channels, the new rules clarify several significant policy changes. Starting from January 2028, the tax rate on profits from crypto asset trading in Japan will be reduced from the current maximum of 55% comprehensive taxation to a unified tax rate of 20%, the same as for stocks (separate declaration taxation). Furthermore, the Japanese market is also expected to officially lift the ban on crypto asset ETFs during the same period, with various securities institutions already beginning preparations for related entry matters.
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