A hacker stole 9.3 million Ripple (XRP) coins worth $4.25 million and 2.5 million Cardano (ADA) coins worth $225,000 from the Bitrue cryptocurrency exchange platform.
A hacker exploited a vulnerability in Bitrue’s Risk Control team’s second review process in order to gain access to users’ personal funds. The hacker then exfiltrated 9.3 million Ripple coins and 2.5 million Cardano coins from Bitrue's hot wallet to accounts at several other cryptocurrency exchange platforms.
Bitrue administrators detected the hack and immediately shut down trading on their platform. Transactions were temporarily suspended and the exchange’s website was put under maintenance.
“Dear Bitrue Users,
First of all, please let us assure you that this situation is under control, 100% of lost funds will be returned to users, and we are reviewing our security measures and policies to ensure this does not happen again,” Bitrue said in a Twitter post.
What actions were taken?
Within a few hours, Bitrue posted an update stating that the exchange will be live soon with the login and trading functionality.
“UPDATE: We expect to have log in and trading functionality live on Bitrue again within a few hours. Thank you for your patience,” Bitrue tweeted.