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Cryptocurrency News Articles
Hackers Drained $23 Million From Singapore-Based Crypto Exchange Bitrue
Jul 01, 2024 at 02:02 am
Hackers drained $23 million from a wallet belonging to Singapore-based crypto exchange Bitrue earlier Friday, it said in a tweet.
Crypto exchange Bitrue said Friday that hackers drained $23 million from one of its hot wallets earlier in the day.
The exchange said in a tweet that it was able to quickly identify and stop the further exploitation of funds from the wallet.
It did not specify how the attack took place.
“The attackers were able to withdraw assets worth approximately 23 million USD in the following currencies: ETH, QNT, GALA, SHIB, HOT and MATIC,” Bitrue said.
The affected wallet contained less than 5% of Bitrue's overall reserves and the remaining wallets were not compromised, the exchange added.
Bitrue said it has temporarily suspended all withdrawals, and expects to reopen them on April 18.
“All identified users who are affected by this incident will be compensated in full,” the post concluded.
Bitrue trades an average of over $1 billion a day, data from CoinGecko shows, with bitcoin and ether among the most-traded token pairs.
BRU coin was down nominally in the past 24 hours.
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