Bitget CEO: The prospects for recovering $388 million in crypto assets are not optimistic
2026-09-30 00:35:21
CoinMeta data: According to Cointelegraph, cryptocurrency exchange Bitget CEO Gracy Chen stated that the company is not optimistic about recovering the $388 million in encrypted assets lost in last week's security incident. Referring to the attack in Bybit of 2025, they mentioned that only about 3.5% of the stolen funds were frozen about a year after the incident, which does not equate to a full recovery. Bitget has established a reward program, offering a 5% reward for both the frozen funds and any recovered funds. The NEAR Intents team claimed to have intercepted over $50 million in assets related to the attack and frozen approximately $500,000. Tether and Circle have added the relevant wallets to a blacklist, freezing funds worth $318,000. USDT and USDC have also been affected. Gracy Chen indicated that preliminary investigations suggest the attack may be linked to addresses used by groups associated with North Korea, but Bitget has not yet ruled out the possibility of internal personnel being involved. Bitget has resumed withdrawals in phases, starting with Bitcoin transactions on Monday and continuing with ETH transactions on Tuesday.
Source:Internet
This content is for market information only and does not constitute investment advice.
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