Bitget: Compensates $40M Loss from TUT Price Swing

Bitget will cover nearly $40 million in losses from abnormal mark price swings in TUT and three other perpetual pairs, CEO Gracy Chen confirmed on X. The exchange detected the volatility at 15:12 GMT+8 yesterday, triggered risk controls, and published its compensation plan today at 19:22. Impacted personal and institutional accounts must register per the announcement; payouts will arrive within two working days. Bitget also pledged tighter altcoin perpetual contract listings and improved OI mark price mechanisms to handle future manipulation attempts in low-liquidity futures.