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BitoPro Got Hacked for $11.5M—But Says Users Are Safe

BitoPro, a crypto exchange from Taiwan, got hit hard. On May 8, hackers drained over $11.5 million from their hot wallets. That’s the kind of wallet always online—great for speed, not so great for safety.*

The attackers moved crypto from Ethereum, Tron, Solana, and Polygon wallets. Then they swapped it on DEXs, and used tools like Tornado Cash and THORChain to cover their tracks.

For weeks, BitoPro kept quiet. No posts. No alerts. But blockchain sleuth ZachXBT noticed the funny business and sounded the alarm.

On June 2, the exchange finally admitted the breach. It happened while they were upgrading systems. An old hot wallet was still connected. Bad idea.

They claim user funds are safe. Trading, deposits, and withdrawals are still working. They’re also working with a security firm to trace the stolen assets.

Meanwhile, hackers are keeping busy. Just ask Cetus, which lost $220M in May. Nervos got hit too—$3M gone.

Web3 is a wild west, and if your wallet’s old or sloppy, the bandits come quick.

*Footnote: A hot wallet is a crypto wallet connected to the internet. It allows faster access but is more vulnerable to hacks.

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Written by 365int

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