XRP Investor Claims Massive Token Loss on Bitrue—Points Finger at Insider Job

Another day, another crypto exchange drama—this time with a side of alleged insider treachery. An XRP holder reports vanishing thousands of tokens on Bitrue, sparking fury and suspicion.

How did it happen? The investor claims unauthorized transactions drained their holdings, with unusual activity pointing to potential internal collusion. Bitrue hasn’t commented yet—because why rush transparency when you can let speculation fuel the FUD?

XRP’s army of loyalists is already mobilizing, demanding answers. Meanwhile, the rest of us sigh, reminded that in crypto, ‘trustless’ systems still require trusting someone—usually until they prove unworthy.

Bonus jab: If this were traditional finance, there’d be paperwork. In crypto? Just a tweetstorm and a prayer.

PapaBear on XPapaBear on X Meanwhile, his X posts have caught the attention of Eri Chan, a prominent XRP community leader. She reposted PapaBear’s tweet, asking those faced with a similar problem to reach out for further actions. Bitrue’s History of Complaints Bitrue started in 2018 as an XRP-focused cryptocurrency exchange. Soon, it expanded beyond XRP and currently offers over 700 cryptocurrencies and 1,100 trading pairs to its users. Nonetheless, it has had a history of unresolved customer complaints, hacks, and accusations of market manipulation. Additionally, its lack of regulation by a top-tier financial authority further fuels skepticism surrounding the exchange. A year after its market debut, Bitrue was reportedly hacked for $4.2 million in XRP and ADA, as exploiters leveraged a firewall weakness to gain control of its hot wallet. Notably, it announced it would make affected customers 100% whole. It faced another exploit in 2023, with the hacker making off with $23 million this time. The affected hot wallet had stashes of Ethereum, Shiba Inu, and Polygon, among others, totaling the mentioned amount. Meanwhile, Bitrue has been at the center of several accusations of market manipulation. Several users have complained that the exchange manipulates asset prices on its platform to liquidate trading positions, highlighting that spikes in prices relative to its exchange have resulted in losses for traders. While these events remain unconfirmed, it is crucial to conduct thorough due diligence when selecting an exchange to trade assets on. At the time of writing, Bitrue has yet to respond to the recent allegations.