Summary
- Bitget CEO Gracy Chen said she is not optimistic about the prospects of freezing and recovering $388 million in funds stolen in a recent hack.
- Chen cited Bybit’s $1.5 billion hack and said only about 3.5% of the total stolen funds has been frozen, with none of it actually recovered.
- Bitget said it is currently offering 5% bounties to parties that help freeze and recover the stolen funds.
Forecast Trend Report by Period
Bitget Chief Executive Officer Gracy Chen said she is not optimistic about the prospects of freezing and recovering $388 million stolen in a recent hack.
Cointelegraph reported on September 29 that Chen pointed to Bybit’s $1.5 billion hack last year to underscore how difficult it is to recover stolen funds.
Nearly a year later, only about 3.5% of the total amount stolen has been frozen, and none of that has actually been recovered, she said.
Bitget is currently offering separate 5% bounties to parties that help freeze and recover the stolen funds.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.