Cryptocurrency exchange Bitrue has shared a new update on the exploit for SHIB, MATIC, GALA wallets.
Statement from Bitrue on SHIB, MATIC, GALA wallet exploit
Singapore-based crypto exchange Bitrue reported in early April that one of its hot wallets had a vulnerability. The attacker withdrew approximately $23 million worth of assets in Ethereum (ETH), Quant (QNT), Gala (GALA), Shiba Inu (SHIB), Holo (HOT), and Polygon (MATIC). According to Bitrue, the affected hot wallet contained only less than 5% of the total assets on the exchange.
Cryptocurrency exchange made a statement on the developments in this regard. In this context, Bitrue said, “Update: All services are fully operational. Thank you for your support,” he said.
Update: All services are fully operational. Thank you for your support. https://t.co/pf2e7jOp32
— Bitrue (@BitrueOfficial) April 27, 2023
Bitrue has done a series of security checks. Later, it found that most users were unaffected. However, it concluded that some users experienced brief interruptions in their withdrawals. However, the cryptocurrency exchange promised to fully compensate users affected by the incident.
However, he was able to partially complete the security checks at that time. While it was able to resume normal operations for all tokens, it was unable to do so for QNT, MATIC, or HOT, which were among the assets stolen in the exploit. The crypto exchange stated in its latest update that all services are fully operational. He also thanked his community for their support.
Further exploitation of funds was prevented, but…
Let’s take a look at the history of the attack. cryptocoin.com As you follow, Bitrue announced on April 14 that an unknown person or group of exchanges has exploited one of its hot wallets. The attackers managed to escape with around $23 million worth of crypto. According to PeckShieldAlert, that list included 22.5 billion Shiba Inu, 320 ETH, 173,000 QNT, 46.4 million GALA, 756.15 million HOT and 310,000 MATIC.
https://twitter.com/BitrueOfficial/status/164681220543168512
Bitrue emphasized that the hacked wallet only holds 5% of the total amount of crypto stored by the exchange. The rest of their wallets were not compromised. Due to the attack, Bitrue has suspended withdrawals. The exchange promised to receive full compensation for the losses of all identified affected customers.
Crypto money market price action
Leading crypto Bitcoin rose to around $30,000 on Wednesday in anticipation of positive monetary policies in the US. However, shortly after the US market opened, prices fell to $27,700 as a result of sales. However, today the leading crypto made a comeback and broke above $29,000.
According to experts, BTC is owned by the American government and troubled cryptocurrency exchange Mt. Gox’s Bitcoin sale rumors may have been more affected. Because prices dropped to $ 27,200. On the other hand, on-chain company Arkham Intelligence, which initially issued the alerts, eventually admitted that such data alerts were miscategorized. As a result, Bitcoin has come to the door of 30 thousand dollars, making up for its losses.
