Hackers drained $23 million from a wallet belonging to Singapore-based crypto exchange Bitrue earlier today, it said in a tweet.
Bitrue did not specify how the attack took place.
“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,” Bitrue said, adding the team was investigating the situation.
“The attackers were able to withdraw assets worth approximately 23 million USD in the following currencies: ETH, QNT, GALA, SHIB, HOT, and MATIC,” the exchange added.
Bitrue said the affected wallet contained less than 5% of overall reserves and the remaining wallet was not compromised.
The exchange has temporarily suspended all withdrawals. It expects to reopen withdrawals on April 18. “All identified users who are affected by this incident will be compensated in full,” the post ended.
Bitrue trades an average of over $1 billion a day, data from CoinGecko shows, with bitcoin and ether among the most-traded token pairs.
Bitrue coin was down nominally in the past 24 hours.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/6c6bb5af-692c-4fcf-9f8b-a75d0549effd.png)
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more about
