Bitrue hacked for $4.5 mln in crypto coins

Bitrue hacked for $4.5 mln in crypto coins

The Singapore crypto exchange Bitrue said today it had been hacked for over 4,5 million USD.

The coins Ripple (XRP) and Cardano (ADA) were stolen through a “vulnerability of the risk control team’s 2nd level review process” at 9 am (GMT) on June 27.

The accounts of about 90 Bitrue clients were compromised.

“The hacker used what they learned from this breach to then access the Bitrue hot wallet and move 9.3 million XRP and 2.5 million ADA to different exchanges,” Bitrue said in a statement.

Part of the stolen funds have been tracked down to several other exchanges including Bittrex, ChangeNOW and Huobi

Bitrue said the stolen funds were insured and that everyone affected will be fully compensated. The company, however, does not give any time frame as to when that might happen, pointing only that the funds will be restored “as soon as possible.”

“Please note that at the time, due to uncertainty about the current situation, we stated that the exchange was going down for some unplanned maintenance. We apologize for this miscommunication with our users. Once again, I want to assure everybody that their personal funds are insured, and anybody affected by this breach will have their funds replaced by us as soon as possible”, the exchange said in a Tweet post.

In May Binance was hacked for over 40 million USD in bitcoins.

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1 Comment

  1. Gerard Roeper

    Do you know more about Hope Area? I was trading with that Compagnie in Binary trading and was managed by an account manager. Since last Friday I cannot login on the trading platform. Login error! Emails notification failure and skype gave no answer!

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