🚨 Exchange Hack Alert! Millions Vanish! 🚨

A crypto exchange called BitoPro got hit with a security breach 💥losing over $11.5 million in digital assets.

The hack happened on May 8, but wasn't disclosed until recently. On-chain data sleuths noticed funds moving to decentralized exchanges (DEXs) and then being cashed out. Some of the stolen crypto was funneled through Tornado Cash and even bridged to Bitcoin via THORChain – classic hacker moves to cover their tracks.

The exchange claims user withdrawals are unaffected and that they're tracking the stolen funds with a third-party security firm. DeFi protocols remain a prime target for hackers 🎯, with recent exploits hitting Cetus and Nervos.

Security analysts are emphasizing the importance of access control to prevent future attacks.

What do you think of this growing threat?

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