A serious security breach may have affected Taiwan-based cryptocurrency exchange BitoPro, with over $11.5 million in digital assets allegedly stolen on May 8, according to blockchain investigator ZachXBT.
Unreported Exploit Targeted Hot Wallets
The suspected hack involved unauthorized access to BitoPro’s hot wallets across multiple major blockchains, including Ethereum, Tron, Solana, and Polygon.
Over $11.5 million worth of crypto assets were reportedly drained during the exploit.
These assets were quickly transferred and sold through decentralized exchanges, then routed through privacy-focused platforms like Tornado Cash, Thorchain, and finally Wasabi Wallet, a well-known Bitcoin mixer.
The funds were laundered using multiple privacy protocols to obscure the transaction trail.
Exchange Cites Maintenance, Not Breach
Despite the magnitude of the reported exploit, BitoPro has not made any public disclosures confirming a security incident. Instead, the platform cited “system maintenance” as the reason for temporarily suspending services around the time of the breach.
BitoPro has yet to officially confirm or deny the incident, raising transparency concerns.
ZachXBT highlighted in his Telegram group that the exchange has remained silent on social platforms like X (formerly Twitter) and Telegram, offering no details to customers or the public.
BitoPro’s Role in Taiwan’s Crypto Market
Founded in 2018, BitoPro is operated by BitoGroup and serves primarily the Taiwanese market. It provides support for fiat trading pairs in Taiwanese Dollar (TWD) for leading cryptocurrencies like:
- Bitcoin (BTC)
- Ethereum (ETH)
- Other major tokens
The exchange is one of Taiwan’s key platforms for local crypto-fiat transactions.
Despite its domestic focus, the incident raises broader questions about hot wallet security and crisis communication in the crypto industry.
Concerns Over User Safety and Transparency
The lack of an official announcement from BitoPro has sparked community concerns about user safety, asset protection, and platform reliability. With $11.5 million allegedly lost and no clear explanation, the incident highlights the importance of transparency in centralized crypto exchanges.
Security breaches can damage user trust—prompt disclosure and response are crucial.