🚨 Suspicious $11.5M Outflows from BitoPro 🚨
On May 8, the Taiwan-based BitoPro cryptocurrency exchange experienced suspicious activity, amounting to roughly $11.5 million in outflows from its hot wallets. The incident was highlighted by on-chain investigator ZachXBT, noting funds were moved across multiple networks, including Tron, Ethereum, Solana, and Polygon. Allegedly, the stolen funds were transferred to Tornado, bridged via Thorchain to Bitcoin, and then sent to Wasabi. Despite 25 days passing since the event, BitoPro has not released an official statement. User impact remains uncertain, while the perpetrators have not been identified. The BitoPro incident bears similarities to a $1.4 billion hack of Bybit earlier this year, involving similar fund obfuscation tactics. Notably, Bybit attributed its exploit to the Lazarus Group linked to North Korea.
FAQ
❓ What happened to BitoPro recently?
BitoPro experienced suspicious outflows of about $11.5 million from its hot wallets across different networks, which have been flagged by on-chain sleuth ZachXBT.
❓ Has BitoPro issued an official statement?
As of now, BitoPro has not released an official statement regarding the $11.5 million outflows.
❓ What similarities exist between the BitoPro and Bybit incidents?
Both incidents involved the use of mixers and cross-chain bridges to obscure the movement of stolen funds.