# Bitget CEO Says Exchange Expects Limited Recovery From $387.5 Million Hack

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/26302
Published: 2026-10-02T05:29:17.000Z
Updated: 2026-10-02T05:29:17.000Z
Section: Technology

> The exchange has frozen about $1.1 million and restored its protection fund to more than $300 million. Withdrawals for remaining cryptocurrencies are scheduled to resume Friday.

Bitget expects to recover little of the $387.5 million stolen in last week’s cyberattack, leaving the exchange to absorb most of the loss as it rebuilds its protection fund and restores services.

CEO Gracy Chen said she was not expecting to recover much of the stolen funds. About $1.1 million has been frozen, but that money has not necessarily been returned to the exchange.

Bitget’s protection fund, which stood above $464 million before the theft, fell below $200 million and has since been replenished to more than $300 million with the company’s own reserves. Bitget said customer account balances were unaffected and the fund is separate from reserves backing those balances.

Withdrawals for Bitcoin, Ether and USDT have resumed. Withdrawals for the exchange’s remaining cryptocurrencies, as well as fiat and peer-to-peer services, are scheduled to resume Friday, Oct. 2.