Taiwan-based cryptocurrency exchange BitoPro confirmed a cyberattack on May 8, resulting in the loss of more than $11 million from an outdated hot wallet. The attack occurred during the wallet upgrade, but BitoPro quickly transferred users' funds to new secure wallets and recovered assets from reserves, ensuring none of the client's funds were affected.
To prevent future violations, BitoPro has hired a leading cybersecurity firm to conduct an investigation and plans to announce new hot wallet addresses. They also emphasized that the majority of assets are protected in cold storage. Despite being attacked, BitoPro maintains user trust thanks to its prompt response and proactive communication.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
BitoPro lost 11 million dollars after being hacked in a hot wallet, promising to fully recover.
Taiwan-based cryptocurrency exchange BitoPro confirmed a cyberattack on May 8, resulting in the loss of more than $11 million from an outdated hot wallet. The attack occurred during the wallet upgrade, but BitoPro quickly transferred users' funds to new secure wallets and recovered assets from reserves, ensuring none of the client's funds were affected.
To prevent future violations, BitoPro has hired a leading cybersecurity firm to conduct an investigation and plans to announce new hot wallet addresses. They also emphasized that the majority of assets are protected in cold storage. Despite being attacked, BitoPro maintains user trust thanks to its prompt response and proactive communication.