BitoPro Bleeds $11.5M in Hack—ZachXBT Spots the Leak Before Exchange Admits It

Another day, another crypto heist—except this time, blockchain sleuth ZachXBT caught the blood trail before the exchange fessed up. BitoPro finally confirmed the $11.5 million breach after unusual wallet activity tipped off investigators. Pro tip: Maybe audits should happen before the money vanishes?

Security? More like ’sure, we’ll get to it.’ The exploit drained funds while BitoPro’s PR team scrambled to spin ’internal reviews’ into reassurance. Meanwhile, traders are left holding the bag—classic crypto risk-reward calculus.

Here’s the kicker: The hack wasn’t even sophisticated. Just another case of ’oops, left the backdoor open’ in an industry that loves preaching decentralization but keeps centralizing its failures. Stay paranoid out there.

• Blockchain investigator ZachXBT identified unusual movements from BitoPro’s hot wallets and traced that the assets were being funneled through Tornado Cash and deposited into Wasabi.
• Despite the early warnings, BitoPro remained silent until public pressure mounted. 

BitoPro, a Taiwan-based crypto exchange, has suffered a major security breach that has resulted in a loss of $11.5 million. The incident came to light after ZachXBT, the popular on-chain analyst, noticed unusual activity involving the platform’s hot wallets. 

He flagged the suspicious outflows and then shared that the exchange may have been targeted and exploited. This event has raised concerns about the safety of funds on centralized crypto platforms.

How ZachXBT Noticed the Flaw and Bitopro Delayed Response

 Earlier in the day, ZachXBT noticed some signs of trouble at Bitpro and shared it on his Telegram group. He first noticed some suspicious movements from the exchange’s hot wallets across different blockchain networks, including Ethereum, Tron, Solana, and Polygon. 

He shared his findings and explained that the assets were either funneled through Tornado Cash or bridged to Bitcoin using THORChain before landing in Wasabi, a known privacy wallet. As he was familiar with on-chain activities, he suspected that it was an exploit, and he suggested that the funds were being laundered to hide their origin. 

Despite the seriousness of the findings, BitoPro didn’t release any valuable information to the public until hours after ZachXBT made his investigation known. After users started to share ZachXBT’s claims in the official BitoPro Telegram group, an admin responded, promising to give a response later. 

It wasn’t until 5:12 PM (local time) that the exchange finally issued a formal statement in Chinese, confirming that the breach occurred during a wallet system upgrade. BitoPro explained that an old hot wallet had been compromised during the operation but assured users that they had carried out emergency actions and steps had been put in place to secure the remaining funds.

They also claimed that user assets are secure and the platform had enough reserves to cover all losses if any happened. However, the company has not shared any specific information as to how much or the exact time the breach happened, thereby frustrating users.

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