Bitget CEO Not Optimistic on Freezing, Recovering $388 Million in Hacked Funds

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.