Taiwanese cryptocurrency exchange BitoPro is suspected to have lost over $11.5 million worth of tokens in a May 8 exploit, widely-followed blockchain sleuth ZachXBT said in his Telegram group on Monday.
The exploit involved unauthorized access to BitoPro’s hot wallets across multiple blockchains, including Ethereum, Tron, Solana, and Polygon.
The stolen assets were then sold on decentralized exchanges, with proceeds laundered through privacy protocols such as Tornado Cash and Thorchain, and eventually moved to Wasabi Wallet, a Bitcoin mixing service.
BitoPro has not issued any public statements acknowledging the breach since the supposed explicit. Users were informed of a temporary service suspension due to “system maintenance” last month, and there was little social chatter in popular crypto X circles around the incident at the time.
“BitoPro has yet to formally disclose the incident on X or Telegram and told users the exchange was just offline for “maintenance,” ZachXBT said.
BitoPro has been based in Taiwan since 2018 and is operated by BitoGroup. It is mostly focused on the local market and mainly supports Taiwanese dollar (TWD) fiat pairs for major tokens such as bitcoin BTC, ether ETH and others.
It processed over $20 million in trading volumes in the past 24 hours, data shows, and is the top locally-focused exchange by that metric.