Taiwan-based Crypto Exchange Bitopro has confirmed to Coindesk that it suffered a cyberattack on an old hot wallet in May, resulting in losses of over $ 11 million.
The company said it immediately refilled the stolen funds and moved assets to new wallets to prevent further losses.
The violation that took place on May 8 during a wallet system upgrade was first marked by Blockchain Sleuth Zachxbt. He revealed that the stolen funds were laundered through decentralized exchanges and privacy protocols before being deposited in Wasabi Wallet, a popular Bitcoin mixer.
“Bitopro recently experienced a cyberattack on an old hot wallet during a wallet system upgrade,” shared Exchange with Coindesk. “After detection, we quickly launched an emergency, secured assets by moving them to new wallets and blocking the striker.”
The company emphasized that user assets were not affected, with all deposits, withdrawals and trading functions that continued as normal.
“Bitopro’s virtual asset reserves are abundant and user assets remain completely unaffected,” added a spokesman.
The exchange said it is working with a third -party cyber security company to investigate the hack and will soon publish new hot drawing addresses to improve transparency. It added that most of its assets are kept in offline cold wallets to protect against similar events in the future.
Bitopro, run by Bitogroup, has earned Taiwan’s crypto market since 2018. It supports large cryptocurrencies paired with the Taiwanese dollar and treated over $ 20 million in trading volume in the last 24 hours, according to data.
Read more: Taiwanese crypto exchange bitopro probably hacked for $ 11 million. In May, Says Zachxbt
