Key Notes
- BitoPro is likely the latest victim of a crypto hack.
- The exchange didn’t reveal the suspicious movements to its community.
- Some members are still complaining of “stuck funds”.
BitoPro, a Taiwanese cryptocurrency exchange launched in 2018, is likely to have lost millions of dollars to a hack in early May, but hasn’t shared any official statements yet.
According to the on-chain investigator ZackXBT, BitPro was likely hacked for $11.5 million on May 8.
Do you want to explain to the community why multiple of your hot wallets saw suspicious outflows of ~$11.5M on May 8, 2025 where you still have not disclosed the security incident on X or Telegram several weeks later? pic.twitter.com/HlD0c93Or4
— ZachXBT (@zachxbt) June 2, 2025
The investigation shows that suspicious outflows have been recorded from the Taiwanese exchange’s TRON TRX $0.27 24h volatility: 0.2% Market cap: $25.38 B Vol. 24h: $384.43 M , Ethereum ETH $2 506 24h volatility: 0.4% Market cap: $302.60 B Vol. 24h: $12.63 B , Solana SOL $153.5 24h volatility: 0.9% Market cap: $80.33 B Vol. 24h: $3.02 B and Polygon MATIC $0.21 24h volatility: 1.1% Market cap: $324.20 M Vol. 24h: $1.30 M hot wallets.
Subsequently, the funds were transferred to Tornado Cash, a popular crypto mixer, or bridged to Bitcoin BTC $104 079 24h volatility: 0.2% Market cap: $2.07 T Vol. 24h: $23.18 B using THORChain, a decentralized cryptocurrency exchange known for its cross-chain capabilities.
The BTC coins were then moved into Wasabi, an open-source, privacy-focused Bitcoin wallet.
Notably, BitoPro is one of the leading exchanges in Taiwan with a daily trading volume of roughly $25 million.
BitoPro hasn’t officially announced the incident yet. The exchange has been consistently citing “maintenance” issues since May 9 in its official Telegram group chat .
Some of the BitoPro users have been complaining of having trouble with their deposits and withdrawals since the announcement of maintenance breaks.
User claiming account details were altered. Source: BitoPro official group chat
Following ZackXBT’s report, BitoPro’s community has been accusing the exchange of misleading the users with false “maintenance” breaks for almost a month.
Some suspect an insider behind missing funds. Source: BitoPro official group chat
Crypto hacks have been acting as a trust barrier for mainstream users. And it’s not just the smaller exchanges that have been losing funds to fraudulent actors.
In February, Bybit, a leading cryptocurrency exchange, witnessed a $1.5 billion hack . The company transparently pushed the recovery process and has reportedly returned its liquidity to the pre-hack levels.
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