On April 14, 2023, the technical support team of the Bitrue cryptocurrency exchange reported a hacker attack in which the attackers were able to withdraw approximately $23 million worth of cryptocurrency assets.
The security specialists of Bitrue discovered a vulnerability in one of the hot wallets of the trading platform, and hackers were able to steal crypto assets such as ETH, QNT, GALA, SHIB, HOT, and MATIC.
However, the exchange assured its customers that the hacked wallet contained less than 5% of all the platform’s funds, and the rest of the wallets were not compromised.
It is not yet known whether the attack was carried out due to technical errors or social engineering methods.
As a result of the attack, Bitrue has suspended all withdrawals until April 18, 2023, and is conducting additional security checks to investigate the situation.
The management of the exchange promised that all identified users affected by the hack would receive full compensation for their losses.
This is not the first time Bitrue has been hacked. In 2019, the platform was also attacked, and hackers were able to steal 9.3 million XRP and 2.5 million ADA.
According to PeckShield analysts, in March 2023, attackers stole $211.5 million worth of cryptocurrencies and $10.9 million worth of NFTs, and in just the first months of the year, approximately $255.8 million was stolen.