Taiwan’s cryptocurrency exchange Bitopro is suspected of losing more than $11.5 million in tokens in the exploit on May 8th.
The exploit included unauthorized access to Bitopro’s hot wallets across multiple blockchains, including Ethereum, Tron, Solana, and Polygon.
The stolen assets were then sold on decentralized exchanges, and proceeds were washed through privacy protocols such as Tornado Cash and Thorchain, and eventually moved to Wasabi Wallet, a Bitcoin mixing service.
Bitopro has not issued an official statement entitled to violations since the expected express statement. Users were notified of a temporary suspension of service last month due to “system maintenance,” and there was little social chatter in the popular crypto X circle at the time.
“BitoPro has yet to officially disclose the case on X or Telegram, and has told users that Exchange is just offline for ‘maintenance’.
Bitopro has been based in Taiwan since 2018 and is run by Bitogroup. It mainly focuses on local markets and supports Taiwan Dollar (TWD) Fiat pairs of major tokens, mainly Bitcoin
BTC$105,381.12
,ether
ETH$2,508.28
others.
It has processed more than $20 million in trading volume in the last 24 hours, and data shows, with local focused top exchanges by its metrics.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
