Singapore-based cryptocurrency exchange Bitrue announced on its Twitter profile that it has been hacked for around 9.3 million XRP ($4.1 million) in user assets.
The hacker used what they learned from this breach to then access the Bitrue hot wallet and move 9.3 million XRP and 2.5 million ADA to different exchanges.
— Bitrue (@BitrueOfficial) June 27, 2019
Hackers were able to access the Bitrue hot wallet and also moved 2.5 million cardano (ADA), worth $231,800 to different exchanges. The breach was identified at around 1 a.m. local time Thursday.
At approximately 1am June 27 (GMT+8), a hacker exploited a vulnerability in our Risk Control team’s 2nd review process to access the personal funds of about 90 Bitrue users.
— Bitrue (@BitrueOfficial) June 27, 2019
The exchange reassured users that all their funds are insured and anyone who lost cryptocurrency would be refunded.
UPDATE: @Exmo_Com have let us know that they were also able to freeze some of the funds that the hackers took, and we will work together to recover them. Thank you so much for your help EXMO!
— Bitrue (@BitrueOfficial) June 27, 2019
Bitrue is working with the Huobi, Bittrex and ChangeNOW exchanges and says they have frozen funds and accounts associated with the hack:
The attack was soon detected, and activity was temporarily suspended on Bitrue. We alerted the receiving exchanges about the situation, and wish to extend our thanks to @HuobiGlobal, @BittrexExchange and @ChangeNOW_io for their help in freezing the affected funds and accounts.
— Bitrue (@BitrueOfficial) June 27, 2019
Earlier this year, Bitrue reported that it has been affected by a 51% attack on the ether classic crypto in which a hacker had tried to withdraw 13,000 ETC. The attempted theft, however, had been stopped by its system.
Might as well want to check LeapRate’s Crypto Crime Update article, published earlier today.