Cryptocurrency Exchange BitoPro Confirms $11.5M Security Breach
#security breaches
Taiwan-based exchange BitoPro acknowledged a security breach resulting in over $11.5 million in digital assets lost from hot wallets on May 8. The incident involved suspicious transactions across Ethereum, Tron, Solana, and Polygon wallets, with funds flowing to DEXs. Despite the breach, BitoPro delayed disclosing the exploit for weeks. Blockchain data revealed assets moved to Tornado Cash or bridged to Bitcoin for anonymity. Following a maintenance period, user withdrawals were affected. BitoPro later confirmed a wallet exploit during an upgrade, ensuring asset reserves and operations were unaffected. A third-party firm was hired to trace stolen funds. The exchange pledged transparency by sharing the new hot wallet address. This breach adds to a series of recent attacks on exchanges and DeFi platforms, highlighting the need for enhanced security measures in the crypto space.
