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Bitcoin stolen in Binance hack likely unrecoverable, says Ballet founder Bobby Lee.

Market News
30 Oct 2026, 09:29 WIB
Tokenpost
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Bearish
Bitcoin stolen in Binance hack likely unrecoverable, says Ballet founder Bobby Lee.

Bobby Lee, founder of Ballet, stated that Bitcoin stolen in a recent hack involving Binance is likely unrecoverable since the stolen coins are already in the hands of hackers. Simon Gerovich, CEO of Metaplanet, emphasized that the hack did not affect Bitcoin's network itself, which has operated securely since 2009. He also noted that Metaplanet stores its Bitcoin in cold wallets with regulated custodians, ensuring safety despite such incidents. This follows Binance's investigation into large crypto transfers after its founder warned of a hack, highlighting ongoing security concerns in the crypto space.

Binance Coin (BNB) is trading at Rp12.989.675 with a notable 5.37% decline over the past day as of Oct 30, 2026 13:41 WIB on Pluang. This price movement comes amid ongoing security concerns highlighted by the recent Binance hack involving stolen Bitcoin, which experts say is likely unrecoverable. Despite the hack, the Bitcoin network itself remains secure, and Metaplanet's use of cold wallets with regulated custodians underscores efforts to protect crypto assets.

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