Bitget 'not expecting to recover a lot' from $388 million hack, CEO tells CNBC
First reported · 22d ago · 1 source
Crest summary — written by AI from the 1 source below; every figure is checked against them · model deepseek-chat
Summary
Bitget suffered a $388 million hack, and its CEO told CNBC the exchange does not expect to recover much of the funds.
Key facts
- Bitget was hacked for $388 million.
- The exchange's CEO said it is 'not expecting to recover a lot'.
- Bitget has frozen a tiny portion of the funds.
Why it matters
Exchanges and their users face losses when stolen funds cannot be recovered, and freezing only a tiny share shows limited ability to claw back assets after a breach.
Companies
Original sources (1)
The report this event was built from. Crest of Tech keeps no article bodies: the full text is at each source.
- CNBC TechnologyPublication · PrimaryBitget 'not expecting to recover a lot' from $388 million hack, CEO tells CNBCRead at CNBC Technology