Singapore exchange Bitrue hacked for $4M in crypto

posted 3 months ago
Singapore-based cryptocurrency exchange Bitrue was hacked for ~$4.2 million in user assets. The platform announced the breach in tweets, “...100% of lost funds will be returned to users...” $4 million XRP was stolen along with other cryptos.

As for how the breach occurred, the exchange explained “A hacker exploited a vulnerability in our Risk Control team’s 2nd review process to access the personal funds of about 90 Bitrue users. 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 is working with the Huobi, Bittrex and ChangeNOW exchanges and says they have frozen funds and accounts associated with the hack.
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