Bitget CEO Says Full Recovery Unlikely After $388M Crypto Theft
Bitget is offering rewards for frozen and recovered funds as related assets remain under investigation.
Bitget CEO Gracy Chen said recovering all $388 million in crypto assets stolen during last week’s security incident is unlikely.
Bitget has created reward programs offering 5% of frozen funds and 5% of recovered funds. NEAR Intents said it intercepted more than $50 million linked to the attack and froze about $500,000.
Tether and Circle also blacklisted wallets tied to the incident and froze $318,000 worth of USDT and USDC. Chen said the investigation’s initial findings may match a virtual private network address used by North Korea-linked groups, but Bitget has not ruled out internal involvement.
Bitget said it was restoring withdrawals in stages, with Bitcoin (BTC) trading resuming Monday and Ether (ETH) trading scheduled to resume Tuesday.
