Crypto exchange Bitrue is hacked, official said everything under control

27 Jun, 2019 | Updated: 27 Jun, 2019
by Fifi Arisandi
Crypto exchange Bitrue is hacked, official said everything under control

Singapore-based exchange, Bitrue experienced a hack that lost them a total of $4.5 million worth of XRP and Cardano (ADA) just couple of hours ago. 

Crypto exchange, Bitrue just experienced a hack just couple of hours today. The exchange announced the incident via their official Twitter account.

Before explaining the details about the hack, the team assures their 16.6K followers about the current status as well as the lost funds.

“First of all, please let us assure you that this situation is under control, 100% of lost funds will be returned to users,” Bitrue team tweeted.

They continued by saying, “And we are reviewing our security measures and policies to ensure this does not happen again.”

The hack that lost them about USD 4.5 million in XRP and Cardano (ADA), with current price, happened on June 26th at 5pm, when a hacker exploited a vulnerability in the exchange’s Risk Control team’s second review process to their 90 users’ funds.

Fortunately, the team realized the attack soon after, immediately suspended the activity and notified receiving exchanges, such as Huobi and Bittrex to freeze the funds and accounts.

As of now, the exchange is still down for “unexpected maintenance” as can be seen on the website.

Bitrue reiterated that all affected funds will be replaced and that all funds are insured, while also informing the steps they take to handle the incident.

Lastly, the team also provided a link through which users can track the stolen funds.

The responses for the announcement are mostly very supportive, given the transparency of the Bitrue team regarding the incident.


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