Singapore's Bitrue Exchange has been hacked, $ 5 million stolen

Bitrue Crypto-Exchange, which is based in Singapore, has undergone a serious hacker attack. From the hot wallet of the exchange, the attackers withdrew 9.3 million XRP and 2.5 million ADA.

The incident was reported by Bitrue representatives on their Twitter blog. Considering the rate of Ripple and Cardano alctoins, which was relevant at the time of the theft, only $ 4.5 million disappeared from the exchange in XRP (at the rate of $ 0.488 per coin) and $ 237,500 in ADA (at the rate of $ 0.095 per coin).

According to messages from Bitrue, attackers managed to gain access to the risk management system, as a result of which they had access to approximately 90 user accounts. And yet, according to Bitrue, the attack was noticed on time, and the activity of the intruders was stopped. The crypto-exchange turned to other trading platforms, in particular to Huobi, Bittrex, ChangeNOW, with a request to freeze transactions and accounts related to the transfer of stolen funds.

The Bitrue team rushed to reassure users, assuring them that the situation was under control. All user funds will be fully returned to the victims. At the time of this writing, the Bitrue platform is still conducting maintenance. The company promised its users to review security measures and improve service quality.