Crypto detective under the pseudonym ZachXBT revealed the results of an investigation into the alleged hack of the Taiwanese cryptocurrency exchange BitoPro, which he claims occurred on May 8, 2025. As a result of the incident, experts estimate that the attackers managed to withdraw approximately $11.5 million in various crypto assets from the platform.
This is reported by Finway
Details of the Incident and Exchange’s Response
According to ZachXBT, the attackers gained unauthorized access to the exchange’s hot wallets in the Ethereum, Tron, Solana, and Polygon blockchains. The stolen cryptocurrency was quickly sold on decentralized exchanges. Some of the assets were laundered through the Tornado Cash mixer, while others were converted to Bitcoin using Thorchain and subsequently sent to the Wasabi service.
In a statement from the BitoPro team on May 9, 2025, it was noted that the withdrawal and deposit system for crypto assets was temporarily “under maintenance,” making it unavailable for some time.
After the investigation results were made public, the administrator of the official BitoGroup Telegram channel reported that the company had received numerous inquiries from clients regarding this matter and would provide an official response soon.
BitoPro: Exchange Overview and Market Metrics
BitoPro has been operating since 2018 and primarily targets the Taiwanese market. The platform is managed by BitoGroup. According to CoinGecko, the trading volume on the exchange over the past 24 hours was approximately $24 million, and the platform’s reliability rating is 8 out of 10.
It is worth noting that the first quarter of 2025 was a record-breaking period for losses in the cybersecurity sector within the cryptocurrency market.