Bitget announces compensation for losses due to BGB price dump

Cryptocurrency exchange Bitget has pledged to fully compensate users affected by an unexpected price volatility of its native token, BGB. The announcement comes in response to a sudden price dump that saw BGB’s value plummet for a brief period of time. On October 7, 2024, at 2:53 AM (UTC), the BGB price fluctuated abnormally for approximately ten minutes. During this brief period, the token’s price dropped from a high of $1.14 to a low of $0.6441. The drop was a considerable 43.5% decline without any valid reason. However, the price quickly rebounded, and BGB is currently trading at $1.06. 

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