{"id":19861,"date":"2023-04-14T17:20:16","date_gmt":"2023-04-14T17:20:16","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/crypto-exchange-bitrue-suffers-23-million-hack-bitcoin-news\/"},"modified":"2023-04-14T17:20:16","modified_gmt":"2023-04-14T17:20:16","slug":"crypto-exchange-bitrue-suffers-23-million-hack-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/crypto-exchange-bitrue-suffers-23-million-hack-bitcoin-news\/","title":{"rendered":"Crypto Exchange Bitrue Suffers $23 Million Hack \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Singapore-based crypto exchange Bitrue has lost millions of U.S. dollars\u2019 worth of ether and other coins in a hack. The trading platform suspended withdrawals until early next week to conduct additional security checks and promised to compensate the affected users.<\/strong><\/p>\n

Bitrue Exchange Loses Crypto Assets Due to Hot Wallet Exploit<\/h2>\n

Cryptocurrency exchange Bitrue announced Friday on Twitter it has identified a \u201cbrief exploit\u201d in one of its hot wallets. The breach led to the theft of around $23 million in a number of cryptocurrencies, including ether (ETH<\/a>) and shiba inu (SHIB).<\/p>\n

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1\/4: We have identified a brief exploit in one of our hot wallets on 07:18 (UTC), 14 April 2023. We were able to address this matter quickly and prevented the further exploit of funds. We take this matter seriously and are currently investigating the situation. pic.twitter.com\/QioPHSB2DM<\/a><\/p>\n

\u2014 Bitrue (@BitrueOfficial) April 14, 2023<\/a><\/p>\n<\/blockquote>\n

The platform\u2019s team said it was able to prevent further transfers of funds and assured the matter is being investigated. \u201cThe affected hot wallet only holds less than 5% of our overall funds. The rest of our wallets remain secure and have not been compromised,\u201d Bitrue pointed out.<\/p>\n

In a follow-up tweet<\/a>, the exchange informed customers it has temporarily suspended withdrawals, which will be restored on Tuesday, April 18. \u201cAll identified users who are affected by this incident will be compensated in full,\u201d Bitrue promised.<\/p>\n

\u201cWe are committed to maintaining transparency throughout this process, and thank you for your continued support,\u201d the Singapore<\/a>-headquartered company added, assuring it\u2019s taking the hacking attack seriously.<\/p>\n

The Bitrue hack is the second major case of this kind since the start of the month. South Korean crypto exchange GDAC announced the loss of more than $13 million when hackers took control of some of its hot wallets on April 9. And in March, over $1.5 million in bitcoin were stolen<\/a> from crypto ATM manufacturer General Bytes.<\/p>\n

This is not the first time Bitrue<\/a> has suffered a security breach. In July 2019, the exchange lost around $4.7 million in XRP<\/a> and ADA<\/a>. At the time, the perpetrators exploited a vulnerability that allowed them to compromise the accounts of dozens of users.<\/p>\n

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Bitrue<\/a>, Breach<\/a>, Crypto<\/a>, crypto exchange<\/a>, Cryptocurrencies<\/a>, Cryptocurrency<\/a>, Cryptocurrency Exchange<\/a>, ETH<\/a>, ether<\/a>, Exchange<\/a>, Exploit<\/a>, Hack<\/a>, Hacker<\/a>, Hackers<\/a>, hacking attack<\/a>, Hacks<\/a>, incident<\/a>, Security<\/a>, shib<\/a>, shiba inu<\/a>, Singapore<\/a>, Theft<\/a>, Withdrawals<\/a><\/div>\n<\/div>\n

What are your thoughts on the hacking incident? Share them in the comments section below. <\/strong><\/em><\/p>\n

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\nLubomir Tassev <\/h6>\n

\nLubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens\u2019s quote: \u201cBeing a writer is what I am, rather than what I do.\u201d Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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