<\/p>\n
The Bitcoin stolen in the hack of Binance\u2019s crypto exchange will probably be impossible to recover, according to Bobby Lee, founder of digital-asset hardware wallet company Ballet Global.<\/p>\n
\u201cThat\u2019s gone,\u201d Lee said in a Bloomberg Television interview on Friday. \u201cThe Bitcoin that\u2019s lost, that\u2019s all gone out into the hackers\u2019 hands.\u201d<\/p>\n
The world\u2019s largest crypto exchange estimated that the heist \u2014 described by the industry as the biggest to hit digital assets \u2014 impacted $6.3 billion of assets. Binance has temporarily suspended all deposits and withdrawals and pledged to cover any losses.<\/p>\n
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The exchange said about $3 billion of the assets have been frozen so far. Lee said only stablecoins stood a realistic chance of being recovered.<\/p>\n
\u201cFreezing it is different from recovery,\u201d he said, adding that Binance faces the lengthy process of working with law enforcement to investigate the incident and formally claim the frozen assets.<\/p>\n
Bitcoin avoided a pronounced selloff in Asian trading on Friday, falling less than 1% to $78,269 as of 1:03 p.m. in Hong Kong.<\/p>\n
In prior years, digital tokens might have plunged after this type of hack, but now the crypto \u201cmarket has really matured a lot,\u201d Lee said.<\/p>\n
\u201cIf you look at the grand scheme of things, there are trillions of dollars in crypto. So having, you know, a billion or two, or $5 billion lost in a hack, is not the end of the world.\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #stolen #Binance #hack #Ballet<\/p>\n","protected":false},"excerpt":{"rendered":"
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