BitoPro confirms $11.5M exploit, says withdrawals unaffected

Taiwan-based exchange BitoPro confirmed an $11.5 million crypto exploit weeks after the breach, saying user funds and withdrawals were unaffected.

Update June 2, 12:26 pm UTC: This article has been updated to include quotes from Hacken analysts.

Taiwan-based cryptocurrency exchange BitoPro confirmed a security breach that led to the loss of more than $11.5 million in digital assets from its hot wallets on May 8.

The suspicious transactions, which occurred across hot wallets on Ethereum, Tron, Solana and Polygon, saw asset outflows to decentralized exchanges (DEXs) where they were later marked as sold, according to onchain investigator ZachXBT.

Read more