BitoPro Confirms $11 Million Cyberattack on Hot Wallet in May
Taiwan-based crypto exchange BitoPro confirmed a cyberattack on an old hot wallet in May, resulting in losses exceeding $11 million.
- The breach occurred on May 8 during a wallet system upgrade.
- Funds were laundered through decentralized exchanges and privacy protocols, then deposited into Wasabi Wallet.
- BitoPro replenished the stolen funds and moved assets to new wallets to prevent further losses.
- User assets were unaffected; all deposit, withdrawal, and trading functions continued normally.
- The exchange is collaborating with a third-party cybersecurity firm for investigation and will publish new hot wallet addresses for transparency.
- Most assets are held in offline cold wallets to enhance security.
- BitoPro has been operational since 2018 and processed over $20 million in trading volume in the last 24 hours.