Bitget CEO Gracy Chen says the exchange can absorb a hack that drained roughly $350 million on September 24. She points to Bybit's larger loss as precedent and expects withdrawals to resume, though not a full recovery of the stolen funds.
Bitget can absorb the roughly $350 million stolen from the exchange on September 24, according to CEO Gracy Chen. She said the exchange can handle a potential surge in withdrawals once they resume.
Chen compared Bitget's retail trading volume with Bybit's, saying that if Bybit could withstand a $1.5 billion loss, Bitget could manage a loss of more than $300 million.
Some public chains have frozen the stolen funds as recovery efforts continue. Chen does not expect a full recovery of the assets.
Source: Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
