Another exploit in the sector!! Crypto exchange Bitrue confirmed it suffered a $23 million exploit on one of its hot wallets on 14 April 2023 at 07:18 (UTC).
Bitrue reported the hackers drained assets worth around $23 million in ETH, QNT, GALA, SHIB, HOT, and MATIC tokens.
“The affected hot wallet only holds less than 5% of our overall funds. The rest of our wallets remain secure and have not been compromised,” the exchange added.
Bitrue has decided to temporarily halt all withdrawals, with plans to resume withdrawals on April 18, 2023. The crypto exchange assured that any users impacted by the exploit will be fully compensated.
Bitrue noted it has taken swift action to address the exploit and effectively prevented any further misuse of funds.
Blockchain security analytics firm Peckshield reported the Bitrue hacker swapped 173,000 QNT, 22.55 billion SHIB, 46.4 million GALA, and 310,000 MATIC for around 8,540 ETH.
The QNT token took a hit following the Bitrue hacker’s swapping, resulting in a price drop of around 11%.
The back-to-back exploits in the crypto industry are worrying the community. Just yesterday, Aave and Yearn Finance suffered an exploit with the attacker draining over $10M in stablecoins.
Also Read: SushiSwap Suffers a $3.3 Million Exploit Due to Approval Bug
