UPDATE – June 27, 11:34 P.M.: This story has been updated to reflect the changes that
Singapore-based cryptocurrency exchange Bitrue has been hacked, losing over $4.5 million in user assets. In other words,
The platform announced the security breach on Twitter, stating that the event was identified approximately 1 A.M. local time Thursday.
At the time of the incident,
The hacker transferred the stolen 9.3 million XRP and 2.5 million ADA coins from Bitrue’s hot wallet to other exchanges.
The platform states that they are currently reviewing its security measures and policies to prevent such security events from occurring again in the future.
The company has contacted the Singaporean authorities to seek assistance in identifying and apprehending the cybercriminal.
Bitrue has provided the public with a link to track the flow of funds on the XRP block explorer.
Bitrue has finished conducting an emergency inspection of the platform and has already returned to live service functionality. The platform’s website is currently up, indicating that log in and trading services are working again.
The hack that occurred today is the crypto exchange’s second security incident this year. Early this year,
The fact that Bitrue’s security was compromised renders it as another cryptocurrency exchange hacked in 2019.
Back in May, hackers successfully stole over $40 million worth of Bitcoin from
Just this week, six cybercriminals from the United Kingdom and the Netherlands were arrested in connection to the theft of $27 million (€24 million) worth of Bitcoin (BTC) cryptocurrency.
24 Hour Update
Approaching 24 hours after the official announcement of the hack, cryptocurrency exchange