Bitrue Hacked for $23 Million

Summary:

On April 14, 2023, cryptocurrency exchange Bitrue was hacked, resulting in the theft of cryptocurrencies worth approximately $23 million. Hackers gained access to the exchange’s hot wallets and stole various cryptocurrencies, including ETH, SHIB, QNT, HOT, MATIC, and GALA.

Attackers:

The identity of the hackers who carried out the attack on Bitrue is unknown.

Bitrue Drainer wallet: 0x1819ede3b8411ebc613f3603813bf42ae09ba5a5

Losses:

Bitrue estimated the losses from the hack to be approximately $23 million. The stolen assets included:

• 320 ETH
• 173,000 QNT
• 172,55B SHIB
• 756,15M HOT
• 310,000 MATIC
• 46,4M GALA

Timeline:

• April 10, 2023, 06:24:11 AM +UTC: Hacker starts attack.
• April 14, 2023: Bitrue reported the hack of its hot wallets and temporarily suspended all withdrawals. Bitrue announced that all identified users affected by this incident will receive full compensation.
• April 17, 2023: Bitrue resumed normal operations.

Security Failure Causes:

• Wallet System Vulnerability: Flaws in Bitrue’s hot wallet system have led to unauthorized access and transfers of funds.