Drift's recovery update shows why Gracy Chen isn't optimistic about Bitget's $388M
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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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What it means
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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Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.
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Thefts of a similar size
| When | What happened | Figure |
|---|---|---|
| 7.1 years ago | WOTOKEN · Ponzi incident | $1.1B |
| 9.3 years ago | BTC-e incident | $990M |
| 10.3 years ago | Bitfinex · Wallet stolen incident | $900M |
| 7.5 years ago | Bitfinex · Scam incident | $851M |
| 6.3 years ago | BitClub · Ponzi incident | $722M |
4282 incidents stored · 10 were as large as this one or larger ($1B)