The bitrue exchange was abused. Cryptocurrency valued around $23 million was compromised.
Today’s attack on the cryptocurrency exchange Bitrue allowed the criminal to withdraw over $23 million worth of digital currency. The misuse was formally acknowledged.
Bitrue revealed that there had been a “brief exploit” in one of their hot wallets earlier in a thread on Twitter.
1/4: We have identified a brief exploit in one of our hot wallets on 07:18 (UTC), 14 April 2023. We were able to address this matter quickly and prevented the further exploit of funds. We take this matter seriously and are currently investigating the situation. pic.twitter.com/QioPHSB2DM
— Bitrue (@BitrueOfficial) April 14, 2023
It was reportedly possible for the crew to stop any additional harm.
Cryptocurrency valued around $23 million
The announcement reads:
- The attackers were able to withdraw assets in ETH, QNT, GALA, SHIB, HOT, and MATIC totaling over 23 million USD.
- We just have a little more than 5% of our total funds in the impacted hot wallet. The remainder of our wallets are still safe and unharmed.
- It’s unclear at this time if a technological defect or social engineering led to the attack.
- Withdrawals have been suspended by the exchange until April 18th “to conduct additional security checks.”
According to a tweet from Singapore-based cryptocurrency exchange Bitrue, hackers stole $23 million from one of its wallets earlier on Friday.
Bitrue did not describe the attack’s methodology.
“On April 14, 2023, at 07:18 (UTC), we found a brief vulnerability in one of our hot wallets. We were able to deal with this issue immediately and stop further money-laundering attempts, Bitrue said, adding that the team was looking into the subject.
Less than 5% of total reserves were in the impacted wallet, according to Bitrue, and the security of the other wallets was not jeopardised.
All withdrawals have been temporarily halted by the exchange. On April 18, withdrawals are anticipated to reopen. The post concluded, “All identified users who are affected by this incident will be fully compensated.”
According to CoinGecko data, Bitrue transacts an average of over $1 billion every day, with bitcoin and ether ranking among the most popular token pairs.
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