Crisis Communication in Web3 - Insights from Industry Leaders

In our 4th instalment of our Expert Series we spoke to Jamie Elkaleh , Marketing Director of Bitget Wallet , on how Web3 brands should manage their communications in a time of crisis. Jamie shares practical advice on managing reputational risk, restoring trust after a breach, and maintaining transparent dialogue with users and media alike:

1. How much should a company disclose immediately after a security breach?

Striking the right balance between transparency and containment is crucial. You want to provide stakeholders with enough detail (particularly about the nature of the breach, immediate risks to user funds or data, and the steps you’re taking to stop more damage) while avoiding disclosing information that could help bad actors. In Web3, trust can disappear fast if you’re not prepared to handle crises head-on, so being proactive is essential. Companies that communicate openly, even if not every detail is confirmed yet, generally retain more goodwill from their user base than those that remain silent for too long.

2. What’s the most common PR mistake companies make in the first 24 hours of a crisis?

The biggest pitfall is silence or delayed communication. If you don’t address a breach quickly, people will fill the information vacuum with speculation. In the early hours, even a brief statement acknowledging the situation and outlining your immediate next steps is better than radio silence.

Additionally, a purely corporate or dismissive tone can hurt trust further. My advice is to be timely, transparent, and empathetic from the get-go. This personal, straightforward approach can help maintain credibility during those critical first moments and shows you genuinely care about user concerns.

3. How can a crypto brand regain trust after a hack?

Trust is rebuilt step by step. You start by dealing with the problem head-on – investigate the causes, share credible findings, and implement fixes right away. Then, talk about the steps you'll take to stop it from happening again, like regular code audits, external security partnerships, or bug bounty programs. Show that you care about keeping your users safe and back that up with concrete steps to strengthen your defenses. Investing in user education is also a good idea. Explaining security best practices and your own ongoing improvements instills confidence. Users appreciate knowing you’re not just reacting to one incident but are committed to long-term protection.

4. What role does the CEO/Founder play in public crisis response?

In the Web3 space, the CEO or founder is often the face of the brand. Their visibility can be really reassuring – especially if they present a concise, empathetic message that demonstrates a clear plan of action. It's not about micromanaging every detail, but about setting the tone for the entire organization. By talking directly to users, whether it's through a live stream, a personal video, or a heartfelt social media post, the top leaders show that they're accountable and that the company is taking the situation seriously.

5. How should a company handle its community (Telegram, Discord, X) during a crisis?

Your community channels are the front lines for speculation and rumor-mongering, so you need to be present and proactive. Pin official updates to each channel, and arm your moderators with clear guidelines for addressing user concerns. Respond to questions promptly, and if you see rumors popping up, correct them with factual information. A calm, fact-based approach generally works best. Acknowledge user emotions – fear, frustration, anger – but don’t let the conversation spiral. And encourage community members to report any suspicious links or messages, since bad actors often exploit chaotic moments to scam users.

6. Refunds, compensation, or security upgrades—what do users value most post-hack?

It depends on how directly users have been impacted. If funds were lost, compensation or refunds are naturally top of mind. If the hack involved sensitive data or forced downtime but no direct financial losses, they’ll be more focused on what you’re doing to prevent similar incidents in the future. We’ve found that transparent communication about security upgrades, third-party audits, and overall user safety initiatives often goes a long way. Even if compensation isn’t a central issue, you build lasting goodwill by demonstrating you’re investing in user protection.

7. Should a crypto firm proactively reach out to journalists or wait for media inquiries?

Proactive outreach is almost always best. Initiating contact allows you to shape the narrative with accurate details and reassure both users and the media that you’re acting in good faith. This approach helps protect your brand from potential misinterpretation. I’ve seen firsthand how proactive communication can mitigate damage and even foster a stronger community post-crisis. It signals that you’re prepared, accessible, and committed to keeping stakeholders informed – qualities that resonate strongly in Web3.

8. How do you deal with misinformation and speculative narratives from competitors?

When misinformation surfaces, respond quickly with factual, data-driven updates through your official channels. Whenever possible, include verifiable proof – such as audit results or third-party security assessments. Encourage users to reference your official statements rather than hearsay.

If a competitor or influencer is pushing a speculative narrative, keep your tone calm and professional. A hostile or overly defensive stance can fan the flames. Instead, present concrete evidence that corrects inaccuracies, and keep reinforcing your official version of events. Ultimately, staying true to your core values – honesty, user-centricity, and innovation – will guide your brand through rough times and help it come out the other side even stronger.

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