Connect with us

Hi, what are you looking for?



Hackers Steal Millions from Cryptocurrency Exchange Bitrue

Singapore-based cryptocurrency exchange Bitrue revealed on Thursday that hackers managed to access and move the funds of tens of its customers.

Singapore-based cryptocurrency exchange Bitrue revealed on Thursday that hackers managed to access and move the funds of tens of its customers.

In a statement posted on Twitter, the company said the attackers exploited a vulnerability in its Risk Control team’s second review process, allowing them to access the funds of roughly 90 users.

According to Bitrue, the hackers managed to move 9.3 million XRP (worth roughly $4.5 million) and 2.5 million ADA (worth roughly $230,000) to other exchanges. The company has been working with those exchanges, including Huobi, Bittrex, ChangeNOW and EXMO, to freeze and recover the stolen cryptocurrency.

The incident has been reported to authorities in Singapore in hopes of getting assistance in tracking down the attackers and recovering the stolen funds. The company has also asked individuals who have information about the breach to contact it via email or Twitter.

The exchange claims the funds of impacted individuals are insured and it has promised that everyone will get their money back.

Bitrue said it quickly detected the malicious activity and temporarily suspended its platform, but it should not take too long for login and trading services to be restored.

“Right now we are conducting an emergency inspection of the exchange and hope to be live again as soon as possible with log in & trading functionality. Withdrawals will be offline for a slightly longer period while we continue investigating the situation,” the exchange said.

Earlier this year, Bitrue reported that someone had attempted to withdraw 13,000 ETC (Ethereum Classic) from its platform, but the attack was blocked by its systems.

Advertisement. Scroll to continue reading.

Many cryptocurrency exchanges were targeted by hackers in the past few years and attackers in many cases managed to steal millions and even tens of millions of dollars worth of cryptocurrency. The list of impacted exchanges includes Binance, Coinrail, Zaif, Coincheck, Bithumb, Bter, Bitfinex, and CAVIRTEX.

Related: Hackers Breach Cryptocurrency Platform Atlas Quantum

Related: North Korean Hackers Prep Attacks Against Cryptocurrency Exchanges

Written By

Eduard Kovacs (@EduardKovacs) is a managing editor at SecurityWeek. He worked as a high school IT teacher for two years before starting a career in journalism as Softpedia’s security news reporter. Eduard holds a bachelor’s degree in industrial informatics and a master’s degree in computer techniques applied in electrical engineering.

Click to comment


Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

Join the session as we discuss the challenges and best practices for cybersecurity leaders managing cloud identities.


SecurityWeek’s Ransomware Resilience and Recovery Summit helps businesses to plan, prepare, and recover from a ransomware incident.


People on the Move

Former DoD CISO Jack Wilmer has been named CEO of defensive and offensive cyber solutions provider SIXGEN.

Certificate lifecycle management firm Sectigo has hired Jason Scott as its CISO.

The State of Vermont has appointed John Toney as the state’s new CISO.

More People On The Move

Expert Insights

Related Content


A recently disclosed vBulletin vulnerability, which had a zero-day status for roughly two days last week, was exploited in a hacker attack targeting the...


The changing nature of what we still generally call ransomware will continue through 2023, driven by three primary conditions.


As it evolves, web3 will contain and increase all the security issues of web2 – and perhaps add a few more.


Luxury retailer Neiman Marcus Group informed some customers last week that their online accounts had been breached by hackers.


Zendesk is informing customers about a data breach that started with an SMS phishing campaign targeting the company’s employees.


Patch Tuesday: Microsoft calls attention to a series of zero-day remote code execution attacks hitting its Office productivity suite.

Artificial Intelligence

The release of OpenAI’s ChatGPT in late 2022 has demonstrated the potential of AI for both good and bad.