On May 8, 2025, Taiwan-based cryptocurrency exchange BitoPro suffered a serious security breach during an upgrade of its wallet infrastructure.
Hackers exploited vulnerabilities in the exchange’s old hot wallet system, orchestrating a sophisticated cyberattack that led to the theft of more than $11.5 million in digital assets.
The breach affected multiple blockchain hot wallets, enabling attackers to withdraw funds unlawfully.
The incident immediately sparked alarm among users and the broader crypto community, raising questions about the adequacy of security protocols at exchanges in the region.
Stolen Assets Laundered Through Privacy Protocols, Hindering Recovery Efforts
Blockchain forensic experts tracking the stolen funds reported that the hackers rapidly funneled the assets through privacy-enhancing platforms such as Tornado Cash and Thorchain.
These protocols obscure transaction histories, making it extremely difficult to trace the stolen tokens.
The attackers further funneled the illicit gains into Wasabi Wallet, a Bitcoin mixer known for anonymizing transactions and complicating forensic tracking.
The use of advanced laundering techniques underscores the increasing sophistication of cybercriminals targeting the crypto sector.
Also, it presents significant obstacles for law enforcement agencies and exchange operators attempting to recover stolen funds.
BitoPro Acts Quickly to Protect Users and Restore Confidence
Despite the magnitude of the loss, BitoPro responded promptly by replenishing the stolen funds from its reserves and migrating all assets to a newly created hot wallet.
The exchange reassured its users that no individual accounts were impacted by the breach and confirmed that core platform services, including deposits, withdrawals, and trading, continued to operate uninterrupted throughout the incident.
The swift action was designed to preserve customer trust and demonstrate BitoPro’s commitment to protecting user assets amid challenging circumstances.
Crypto Exchanges Worldwide Step Up Security After String of High-Profile Hacks
BitoPro’s breach follows a growing pattern of major crypto exchange hacks, prompting renewed emphasis on infrastructure security across the industry.
Bybit recently recovered its Ethereum reserves after a devastating $1.4 billion hack that compromised its cold wallet system.
Similarly, WazirX reversed post-hack transactions and restored balances following a $230 million breach.
Also, WEMIX launched a $7.5 million token buyback to restore market confidence after its $6 million security incident.
These responses reflect an industry-wide shift toward proactive damage control, rapid recovery strategies, and enhanced user protection protocols.
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