• Bitrue, a renowned cryptocurrency exchange, has fallen victim to a hack resulting in the loss of approximately $23 million worth of cryptocurrency.
• The exchange has temporarily halted withdrawals and pledged to keep users informed of any updates.
• Bitrue is assuring its users that they will be fully compensated for any losses incurred due to the security breach.
Bitrue Hack Results in Loss of $23 Million Worth of Cryptocurrency
Renowned cryptocurrency exchange Bitrue has fallen victim to a hack that has resulted in a loss of approximately $23 million worth of cryptocurrency. The manner in which the attack was executed was not explicitly stated by Bitrue. The exchange is investigating the situation at the moment.
Withdrawals Halted During Investigation
According to the announcement made by Bitrue, all the withdrawals have been temporarily halted due to a “brief exploit” of their hot wallet. The exchange will conduct further security inspections and has planned to reestablish withdrawals by April 18, 2023.
Bitrue Assures Users Will Be Fully Compensated
The exchange has also pledged to keep its users informed of any updates and has taken measures to minimize the breach’s impact. Bitrue records an average trading volume of more than $1 billion each day, with Bitcoin and Ether being among the top token pairs traded on the exchange.
Full Compensation Promised For Affected Bitrue Users Bitrue’s management highlighted that their prompt response to the incident enabled them to prevent any further loss of funds. They have also assured their users that they will be fully compensated for any losses incurred due to the security breach.
Attacker Initiates Sale Of Pilfered Cryptocurrencies
The perpetrator has reportedly initiated the sale of the pilfered cryptocurrencies. According to a report by PeckShieldAlert,the mentioned quantities of SHIB, GALA, QNT, and MATIC were sold for around 8,540 ETH, causingthe priceof QNTto declineby 11%within three hoursofsale . Additionalinformationregardingthe recentcrypto theftfromBiturehasbeensharedbythecryptointelligence firmArkham .