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Hackers Attack Bitrue Crypto Exchange, Stealing Over $4 Mln in XRP and ADA

  • Yuri Molchan
    📰 News

    💱👮Another crypto exchange falls victim to hackers this year, this time the security breach was spotted by Singapore-based Bitrue🛡⚙


Hackers Attack Bitrue Crypto Exchange, Stealing Over $4 Mln in XRP and ADA
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On Thursday, Bitrue announced on Twitter that it found a security breach in its system and lost slightly over $4 mln in XRP and ADA belonging to its users.

A hacker hits Bitrue

Earlier today, the exchange announced on its account that it was going to suspend all operations due to the scheduled maintenance. However, in the posts that followed soon after, the Bitrue team said that apparently a hacker or a group of them had exploited a vulnerability in the system and had stolen a substantial amount of crypto through a security breach.

The losses amount to 9.3 mln XRP and 2.5 mln Cardano (ADA). That is about $4.2 mln.

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Bitrue is handling the aftermath

The team mentioned that the funds were stolen from a hot wallet and belonged to users. However, the team is working to retrieve the lost crypto and has notified the relevant authorities to get assistance from them. They have promised that all the lost crypto assets will be returned to the owners.

At present, Bitrue is collaborating with Bittrex, Huobi and ChangeNOW, where the stolen coins have been sent by the culprits, to get them to freeze the stolen funds.

Apart from that, the hacked platform is busy making an emergency check-up of all its systems in order to resume normal operations for customers as soon as possible.

Earlier this year, Bitrue faced a 51% attack against Ethereum Classic (ETC), when criminals tried to steal 13,000 ETC. The exchange reps stated that the attack was ultimately prevented thanks to the security system of Bitrue.

Cover image via cryptocomes.com
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About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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