Ballet founder says recovery of BTC stolen in Binance hack is nearly impossible

Ballet founder Bobby Lee said the chances of recovering Bitcoin stolen in the Binance hack are extremely low, Bloomberg reported, citing a Bloomberg TV interview.

Lee said the stolen BTC is already in the hackers’ possession, making stablecoins the only assets that can realistically be targeted for recovery. Even then, Lee added, freezing assets and actually getting them returned are separate matters, and recovery would require a lengthy process in cooperation with law enforcement agencies. He also said the limited drop in Bitcoin’s price despite a large-scale hack suggests the cryptocurrency market has matured.

Source: Coinness