Taiwan-Based Crypto Exchange BitoPro Reportedly Suffers $11.5M Exploit, Remains Silent Weeks Later

Taiwan-based cryptocurrency exchange BitoPro may have fallen victim to a major security breach, with over $11.5 million in digital assets siphoned from its hot wallets on May 8, according to blockchain investigator ZachXBT.The suspicious outflows reportedly affected multiple blockchains, including Ethereum, Tron, Solana, and Polygon, with the stolen assets later moved to decentralized exchanges (DEXs), cryptocurrency mixer Tornado Cash, and even bridged to Bitcoin via THORChain—a tactic commonly used by hackers to obfuscate the origin of funds.Despite the significant outflow and clear on-chain patterns of illicit activity, BitoPro has not publicly acknowledged the breach on its official X account or Telegram channel, even several weeks after the incident, ZachXBT noted in an X post.Exchange Cited “Maintenance” One Day After HackOn May 9, just one day after the alleged exploit, BitoPro announced maintenance for its exchange services, which it claimed was resolved within the same day. However, users have since reported issues withdrawing USDT, raising further concerns over the platform’s transparency and operational integrity.Cointelegraph reached out to BitoPro for comment, but no official statement has been issued as of press time.On-Chain Clues and Laundering TechniquesBlockchain analysis indicates that large sums of crypto were funneled through Tornado Cash, a mixer that scrambles transaction trails, and bridged to Bitcoin via THORChain—a method commonly associated with cybercriminals attempting to launder stolen funds.The transaction patterns closely resemble previous high-profile exchange exploits, where attackers quickly move assets across chains and into mixers to avoid detection and recovery efforts.Rising Exchange Exploits in 2025This incident comes amid a wave of increasing attacks on centralized and decentralized finance (DeFi) platforms. Just last month, decentralized exchange Cetus was hacked for over $220 million, though a coordinated validator effort helped freeze $162 million, which was later returned to the protocol after a governance vote.As the total value locked in digital assets continues to grow, exchanges remain prime targets for cyberattacks, and transparency around security breaches is becoming more critical than ever to maintain user trust.The lack of acknowledgement from BitoPro raises questions about the platform’s internal controls and crisis communication strategy as user withdrawals remain restricted. Further updates are expected as the situation unfolds, according to Cointelegraph.