Bitrue, a cryptocurrency exchange, announced on Twitter that it detected an exploit in one of its hot wallets on April 14, 2023, but was able to address the issue quickly and prevent further loss.
However, attackers were still able to withdraw assets worth approximately $23 million USD in various cryptocurrencies, including ETH, QNT, GALA, SHIB, HOT, and MATIC. The affected hot wallet represented less than 5% of Bitrue’s overall funds, and the exchange assured users that the rest of its wallets remain secure.
To conduct additional security checks, Bitrue suspended all withdrawals temporarily, with withdrawals expected to resume on April 18, 2023. The exchange has committed to compensating all identified users affected by the incident in full and is conducting a thorough security review to prevent similar attacks in the future.
Users who were affected by the exploit were advised to contact Bitrue support for assistance.
This is not the first time Bitrue has been hacked. In 2019, the exchange suffered a loss of $4 million USD. The recent incident underscores the importance of robust security measures for cryptocurrency exchanges and highlights the risks of keeping large amounts of funds in hot wallets.
While Bitrue assures its customers that the rest of its wallets remain secure, users must decide whether to continue trading on the platform or move their assets elsewhere.
