- Bitrue suffered a $22 million crypto theft, and the exploiter is now moving the stolen funds.
- The exploiter transferred over $30 million in crypto, including ether (ETH) and DAI, through new addresses.
- 1,000 ETH, valued at $2.7 million, was deposited into Tornado Cash, a mixing service that obscures transaction trails.
- Some users, including a vocal XRP holder, claim that funds have disappeared from Bitrue wallets and suspect inside involvement.
- Bitrue previously locked withdrawals after a hack in 2023 affected one hot wallet and about 5% of its reserves.
Bitrue, a cryptocurrency exchange, recently experienced the movement of $30 million worth of stolen digital assets by the party responsible for a previous $22 million theft. Blockchain security firms reported that the funds have been deposited into Tornado Cash, a service used to hide the origin of cryptocurrency transactions.
PeckShieldAlert announced on social media that the exploiter’s address transferred over 5,100 ether (ETH) and 16 million DAI to a new wallet. CertiK, another security firm, stated that 1,000 ETH—about $2.7 million—was sent to Tornado Cash, a crypto mixing tool often used to make tracing coins difficult.
The exploiter had earlier converted large quantities of Shiba Inu tokens and HOT tokens into around 1,500 ETH and began moving portions of it into Tornado Cash. Bitrue had suspended customer withdrawals in 2023 after Hackers drained a hot wallet, which the company said was about 5% of its reserves, according to an official statement.
Concerns about the platform’s security remain. One XRP holder and community advocate, using the name “PapaBear,” reported losing 2,047 XRP (about $4,562), claiming his funds were taken from his Bitrue wallet overnight. He stated on social media, “@BitrueOfficial has been hacked … somebody was able to withdraw through the night beware I lost about 2047 XRP”. PapaBear also said it would not be possible for hackers to bypass his Google verification and suggested, after speaking with another XRP advocate, that Bitrue insiders may be responsible.
Bitrue has not released an official response to these new user allegations.
Earlier, similar incidents in the crypto space were reported, including other exploits where significant amounts were lost or laundered. The timeline surrounding Bitrue’s 2023 hot wallet hack highlights ongoing security challenges for crypto exchanges.
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