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Bitrue Exchange Hacked for 200 Billion SHIB, Millions of QNT, GALA, MATIC: Details

Fri, 04/14/2023 - 11:31
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Yuri Molchan
One of Bitrue's hot wallets has been exploited, almost 200 billion SHIB and other tokens drained from it, withdrawals halted
Bitrue Exchange Hacked for 200 Billion SHIB, Millions of QNT, GALA, MATIC: Details
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Bitrue exchange has shared that one of its hot wallets has been hacked, and an enormous amount of Shiba Inu, as well as Polygon and other cryptos, have been drained from it. The hacker has already begun selling the stolen crypto.

Further exploit of funds prevented, but billions of cryptos lost

According to a Twitter thread of Bitrue, earlier today, an unknown individual or a group exploited one of the hot wallets of the exchange. The attackers managed to get away with crypto worth roughly $23 million.

That list includes, according to PeckShieldAlert, 22.5 billion Shiba Inu, 320 ETH, 173,000 QNT, 46.4 million GALA, 756.15 million HOT and 310,000 MATIC.

Bitrue stressed that the hacked wallet held only 5% of the overall amount of crypto stored by the exchange. The rest of its wallets were not compromised.

Due to the situation, withdrawals have been suspended by Bitrue, and it will resume operations on April 18. The tweet promises that all affected customers who are identified will receive full compensation for their losses.

Shiba Inu (SHIB) Surpasses Ethereum (ETH) as Top Trending Asset on CoinMarketCap

Hackers begin selling

PeckShieldAlert has reported that the aforementioned amounts of SHIB, GALA, QNT and MATIC were sold for approximately 8,540 ETH, pushing the price of QNT down 11% within three hours of that sale.

The overall amount of Shiba Inu stolen from Bitrue equals 172.55 billion.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at