$23 Million Worth of Crypto Compromised as Bitrue Exchange Gets Hacked

Cryptocurrency exchange Bitrue was exploited today, with the perpetrator being able to withdraw approximately $23 million worth of cryptocurrency.

The exploit was officially confirmed.

• • In a Twitter thread posted today, Bitrue revealed that the exchange suffered a “brief exploit” in one of their hot wallets earlier.

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

• The team was supposedly able to prevent any further damage.
• Per the announcement:

The attackers were able to withdraw assets worth approximately 23M USD in ETH, QNT, GALA, SHIB, HOT, and MATIC. The affected hot wallet only holds less than 5% of our overall funds. The rest of our wallets reman secure and have not been compromised.

• It’s not yet clear if the exploit was a result of a technical error or social engineering.
• The exchange has halted withdrawals until April 18t “to conduct additional security checks.”