Gracy Chen on proof of reserve

About Gracy Chen

Gracy Chen, CEO of Bitget, has been publicly addressing the exchange's September 24, 2026 security breach, in which approximately $388 million was stolen from its hot and warm wallets. Chen stated that attackers exploited a vulnerability in a third-party security product to obtain high-level internal credentials and initiate unauthorized transfers. She said the company covered user losses using its protection fund and company capital, which she stated exceeds $1 billion, and described steps taken to strengthen security, including stricter assessments of third-party products and reset internal credentials. Chen also discussed the company's plans to replenish its protection fund to over $300 million and its efforts to cooperate with law enforcement and other industry participants to recover stolen assets. Beyond the hack, Chen has discussed her views on the broader crypto market, which she has described as a "monkey market" that could see Bitcoin swing 30% in either direction. She has expressed skepticism about the viability of many altcoins and has highlighted a shift toward tokenization, predicting that traditional financial assets such as stocks and commodities will increasingly be traded on blockchain infrastructure. Chen has also spoken about Bitget's strategy to become a "universal exchange" (UEX) offering a wider range of assets, including tokenized stocks and pre-IPO shares, and has noted the company's plans to expand into the U.S. market. She has additionally participated in panels discussing Bitcoin yield products and the role of women in crypto leadership.

Profile compiled from Gracy Chen's verified public interviews and appearances. See all quotes & transcripts →