{
  "id": 10729327,
  "title": "Bitget CEO ‘not very optimistic’ on recovering funds from $388M breach",
  "url": "https://urgent.news/2026/09/29/bitget-ceo-not-very-optimistic-on-recovering-funds-from-388m-breach",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-09-29T16:18:06.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/bitget-ceo-gracy-chen-chances-recovering-funds-security-breach"
  },
  "original_language": "en",
  "account": "Bitget's CEO, Gracy Chen, expressed uncertainty about the company's ability to recover all the funds lost in a $388 million crypto security breach that occurred this week. Chen drew a comparison to the 2025 Bybit hack, where only $80 million of the $1.5 billion stolen in Ether (ETH) attacks had been frozen or recovered. Bitget launched a bounty program offering 5% of frozen and recovered funds to incentivize user protection. Other companies have also contributed, with NEAR Intents freezing over $50 million and Tether and Circle blacklisting a wallet linked to the breach, securing $318,013 in USDt and USDC. This incident marks one of the largest breaches in 2026, following a $320 million attack on the Liquid Network in September. Chen mentioned North Korea as a potential perpetrator, based on IP addresses, but stated that Bitget had not ruled out a possible internal breach. Bitget resumed withdrawals for users in stages, beginning with Bitcoin transactions on Monday and Ethereum on Tuesday.",
  "summary": "Gracy Chen said she saw the 2025 Bybit hack as a “good reference point” for Bitget’s security breach, noting that only a small percentage of funds had been frozen or recovered.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}