Drift's recovery update shows why Gracy Chen isn't optimistic about Bitget's $388M
Bitget raised its final loss estimate to $388 million after the cyberattack recorded last Thursday, and Gracy Chen said she does not expect the stolen funds to be recovered. Drift’s slower recovery from its own exploit has become the comparison point, with most of the $295.4 million taken on April 1, 2026 still unrecovered and some of it still moving through Tornado Cash. Separate tracking of September hacks put Bitget at the center of the month’s losses and showed how much one incident can dominate the broader monthly tally.
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Users and customers around Bitget are the ones who will notice this first, because the company has now put its final loss estimate at $388 million after the incident recorded last Thursday. The broader crypto sector also sees the scale of the event in September’s hack totals, where Bitget’s breach made up most of the month’s damage.
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Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 7.0 years ago | WOTOKEN · Ponzi incident | $1.1B |
| 9.2 years ago | BTC-e · Unknown incident | $990M |
| 10.2 years ago | Bitfinex · Wallet stolen incident | $900M |
| 7.5 years ago | Bitfinex · Scam incident | $851M |
| 6.3 years ago | BitClub · Ponzi incident | $722M |
4197 incidents stored · 8 were as large as this one or larger ($1B)
What could happen next
What the prediction markets currently price as likely. This is context, not a forecast of ours: there is money on it, and that is all we show.