Hacker steals $4.5 million from Bitrue exchange

A Singapore-based cryptocurrency trading platform, Bitrue was attacked by unidentified hacker (or maybe a group of hackers) to steal cryptocurrency worth over $4.5 million. Ripple coins worth of $4.25 million and Cardano coins worth of $225,000 were stolen.

The hack was acknowledged by the admins by the statement they posted on their company’s official Twitter account, and Telegram channel. As per their statement, the hack was detected immediately by the admins and they did shut down their trading platform putting it into a maintenance mode until they had an idea what was going on.

Previously an odd kind of phishing campaigns were identified as well, hackers trying their very best to get around with new workarounds.

The administrators believe they have tracked down the theft, linking it to an unauthorized transaction.

“Please let us assure you that this situation is under control, 100% of lost funds will be returned to users,” Bitrue assured in their statement.

According to CoinMarketCap’s daily exchange ranking, Bitrue is a Top-100 cryptocurrency exchange.

This isn’t the first time Bitrue had to experience a security incident this year, previously in January Bitrue experienced an attack in which the attacker attempted to withdraw over 13,000 Ethereum Classic(ETC) coins worth over $100,000. However, this attack was prevented as they halted their systems as soon as such an action was detected.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *