A suspected security breach on May 8 has reportedly resulted in the loss of over $11.5 million in tokens for Taiwanese cryptocurrency exchange BitoPro, as revealed by prominent on-chain analyst ZachXBT in a Telegram group on Monday. The security incident involved unauthorized access to the exchange's hot wallets across multiple blockchain platforms, including Ethereum, Tron, Solana, and Polygon.
The stolen assets were subsequently sold on decentralized exchanges, with the proceeds being laundered through privacy protocols such as Tornado Cash and Thorchain before being transferred to a Bitcoin mixing service called Wasabi Wallet. Despite the alleged breach, BitoPro has not publicly acknowledged the incident, instead informing users of a temporary service suspension due to 'system maintenance' last month. As noted by ZachXBT, 'BitoPro has yet to formally disclose the incident on social media or Telegram, and told users the exchange was just offline for maintenance.' Founded in 2018, BitoPro is operated by BitoGroup and primarily serves the local Taiwanese market, offering fiat pairs in Taiwanese dollars for major tokens such as bitcoin, ether, and others.
According to data, the exchange has processed over $20 million in trading volumes within the past 24 hours and is currently the top locally-focused exchange by this metric.