Charlotte Lee reports:
Taiwan’s second-largest crypto platform BitoPro suffered a cyberattack on May 8, losing an estimated NT$345 million (US$11.5 million), blockchain analyst ZachXBT revealed Monday.
The Financial Supervisory Commission’s Securities and Futures Bureau confirmed the security breach and announced that BitoPro will be required to issue an official public statement regarding the incident, CTEE reported. Operator Bito Group assured users that their assets and rights remain protected and unaffected.
ZachXBT’s on-chain analysis revealed that the hackers exploited several public blockchains, including Tron, Ethereum, Solana, and Polygon. Following the theft, the stolen funds were moved through centralized exchanges or third-party platforms for trading digital currencies for liquidation.
The hackers also employed mixers such as Tornado Cash to obscure the origin and destination of the assets, and used cross-chain transfers via Thorchain to move the funds into the Bitcoin network. From there, the money was funneled into privacy wallets like Wasabi.
Read more at Taiwan News.