Hacker steals $4.5 million from Bitrue cryptocurrency exchange
Once again, a major cryptocurrency platform has been at the receiving end of a cyberattack resulting in the theft of millions of dollars worth of cryptocurrency. This time the victim was Singaporean crypto exchange Bitrue and the hacker(s) managed to steal 9.3 million Ripple (XRP) coins and 2.5 million Cardano (ADA) coins, worth $4.25 million and $225,000, respectively, for a total of $4.5 million.
Bitrue detected the attack as it was happening and responded by temporarily shutting down the site. The company has launched an investigation into the incident and is working to retrieve the funds with assistance from Singaporean authorities as well as various other crypto platforms that were used by the attacker to transfer the stolen funds to. Bitrue says all affected users will get their money back.