Hack Suspicion at Taiwan-Based Cryptocurrency Exchange: 11.5 Million Dollars Missing!

While security breaches in the cryptocurrency world are becoming more complicated every day, the alleged cyberattack suffered by the Taiwan-based exchange BitoPro has created a wave of concern in the industry. In this incident, which allegedly took place on May 8, approximately $11.5 million in assets were withdrawn from the exchange's hot wallets in suspicious transactions. These allegations, made by blockchain detective ZachXBT, have been complicated by the use of anonymization tools such as Tornado Cash and Thorchain. The silence of BitoPro, which has not made an official statement for more than three weeks, has created uncertainty.

Alleged hack for cryptocurrency exchange BitoPro

Taiwan-based cryptocurrency exchange BitoPro is believed to have suffered a cyberattack worth approximately $11.5 million on May 8, according to on-chain analyst ZachXBT. Suspicious outflows were detected from hot wallets on various blockchain networks, including Tron, Ethereum, Solana and Polygon. However, more than three weeks after the incident, BitoPro has yet to make a public statement.

ZachXBT posted on his Telegram channel that there have been suspicious outflows of funds from the exchange's hot wallets on multiple networks. It was stated that the stolen funds were transferred to the mixer service Tornado Cash, then bridged to Bitcoin via Thorchain and deposited into the Wasabi wallet. In this process, it became almost impossible to trace the funds. Because such mixers and cross-chain bridges are tools used to make it difficult to trace cryptocurrency transfers. Through mixers, attackers send cryptocurrencies to different addresses by splitting or mixing them. This breaks the connection between the source and the recipient of the assets.

Users started sharing ZachXBT's claims on BitoPro's official Telegram channel. A few hours ago, a channel administrator posted the following message: “Many questions came in, we will respond to all of you collectively.” However, this message was not followed by a concrete statement. It remains unclear to what extent user assets were affected in the BitoPro attack. The person or groups who carried out the attack have not yet been identified.

Bybit was hacked at the beginning of 2025

This brings to mind the Bybit hack in early 2025, which resulted in a $1.4 billion loss. The Bybit attack similarly utilized mixer services such as Wasabi, Tornado Cash and Thorchain, circulating funds through cross-chain bridges and peer-to-peer (P2P) exchanges. According to the most recent statement by Bybit's CEO, more than 27 percent of the stolen funds, about $380 million, are still untraceable. The Lazarus Group, a notorious North Korean-backed cyber hacking group, is believed to be behind the attack.