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      Bitget Introduces Bounty Program to Recover Stolen Funds

      Bitget, a cryptocurrency exchange, has launched a bounty recovery program aimed at retrieving stolen funds following a significant security breach. The program offers a 5% reward for freezing the attackers' assets and an additional 5% for successfully recovering those funds. Gracy Chen, CEO of Bitget, made the announcement on the X platform, urging exchanges, security researchers, and on-chain investigators to assist in tracking down the stolen assets.

      The breach, which resulted in losses estimated at $351.6 million, involved attackers compromising the wallet service's backend system. They were able to forge transfer information and trigger the authorization signature process without leaking private keys. In response to the attack, cryptocurrency firms Circle and Tether have already frozen approximately $318,000 in assets, including 218,023 USDT and 99,990 USDC, linked to the incident. Chen expressed gratitude to these companies for their prompt actions in freezing the funds.

      Bitget's initiative highlights the ongoing challenges faced by cryptocurrency exchanges in securing user funds and the importance of collaboration within the industry to combat cybercrime. The exchange is actively seeking participation from the broader crypto community to enhance the chances of recovering the stolen assets.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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