Ballet Founder: BTC Stolen from Binance May Be Difficult to Recover, Crypto Market Already Able to Withstand Tens of Billions in Losses
According to Bloomberg reports, Bobby Lee, founder of the digital asset hardware wallet company Ballet, stated in an interview with Bloomberg Television that the Bitcoin stolen in the Binance security incident is likely irrecoverable, as the related assets have already fallen into the hands of the hackers. He noted that stablecoins are currently the asset type with the most realistic chance of recovery, but freezing assets does not mean the recovery process is complete. Binance will still need to cooperate with law enforcement agencies on the investigation and formally apply to claim the frozen assets.
