# Ballet Founder Says Bitcoin (BTC) Stolen in Binance Hack Is Likely Unrecoverable By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/44341 Published: 2026-10-30T06:29:00.000Z Updated: 2026-10-30T06:29:00.000Z Section: Technology > Metaplanet CEO Simon Gerovich said Bitcoin’s network was unaffected and the company keeps its holdings in cold wallets with a regulated custodian. Ballet founder Bobby Lee said Bitcoin (BTC) stolen in a hack involving Binance is likely unrecoverable because the stolen coins are already in hackers’ hands. Metaplanet CEO Simon Gerovich said the incident did not affect Bitcoin itself. He said the network has operated as designed since 2009 and that Metaplanet stores all its Bitcoin in cold wallets with a regulated custodian. The comments follow [Binance’s investigation into large crypto transfers after its founder warned of a hack](). ## Links in this article - [Binance’s investigation into large crypto transfers after its founder warned of a hack](https://www.tokenpost.com/news/technology/44136)