- Taiwan’s BitoPro likely hacked, $11.5M stolen across multiple blockchain networks.
- Hackers launder stolen crypto through Tornado Cash, Thorchain, and Wasabi Wallet.
- Exchange promises a new wallet address and stronger security to regain user trust.
BitoPro, a crypto exchange based in Taiwan, was likely hacked on May 8, 2025. Approximately $11.5 million worth of cryptocurrency was stolen from the platform. Money belonging to the wallets was taken from the Ethereum, Tron, Solana, and Polygon networks. In its early announcements, BitoPro did not admit there was an attack and stated it was carrying out maintenance instead. However, seeing different behavior and big withdrawals led people in the crypto community to raise concerns quite soon.
BitoPro Confirms Hot Wallet Breach During System Upgrade
A short time later, analysts realized that the stolen funds were going to decentralized exchanges (DEXs) and being immediately sold off. Then, the funds went through privacy tools, including Tornado Cash and Thorchain, to keep their source secret. Part of the stolen money was moved into Bitcoin and sent to Wasabi Wallet, which is used to mix Bitcoin transactions to help cover up users’ identities. This activity agreed with how hackers normally move stolen money, signaling that the hackers involved were very experienced.
BitoPro accepted that their old hot wallet system had been compromised. The problem happened during a planned service upgrade and fund transfer. Based on the company’s statement, the hacker intruded through the process to get access to the wallet. Even so, the exchange took action fast. BitoPro secured the rest of the user’s funds in a safe wallet and stopped the attacker from getting in. Also, the company hired an external cybersecurity expert to help investigate the incident and monitor what was happening.
In spite of the huge sum involved, BitoPro told users their funds were protected. It announced that most of its users’ funds are kept in offline, secure wallets that are not linked to the internet. The wallets were not affected by the hack. Because of this, users could still withdraw, deposit and take part in trading activities regularly. Users’ information was not altered by the attack, it was only limited to the cryptocurrency on the exchange.
BitoPro to Launch New Hot Wallet for Transparency
Moving forward, the exchange has promised to take further steps to improve its systems. A new hot wallet address will be revealed soon to enable users and auditors to review the transactions happening at all times. This is a step BitoPro takes to be more open and trustworthy to its users. The website will work on improving its wallet service, making real-time monitoring features more effective, and increasing cybersecurity measures.
Also, the BitoPro case is an example of a bigger trend in 2025 related to more advanced and regular cyberattacks on exchanges. Online wallets are still frequently attacked, although cold wallets are secure. It reminds us that even well-known exchanges should be alert and ready for risks like this.
Ultimately, though BitoPro’s system was compromised by a hack, the company acted very fast to prevent further damage. Both working on security measures and open communication, the company hopes to get users to trust them again and provide dependable services.
The post BitoPro Hack Suspected, $11.5M Drained Across Chains appeared first on Live Bitcoin News.
Source link
