Golden Finance reported that ZachXBT, known as the “detective on the chain”, released a shocking piece of news on his personal channel: The crypto exchange BitoPro is highly likely to suffer a theft on May 8, 2025, with an estimated loss of approximately 11.5 million US dollars.
ZachXBT, after in-depth on-chain monitoring, found that on multiple blockchain platforms including Tron, Ethereum, Solana, and Polygon, there were a series of suspicious signs of fund outflows from BitoPro’s hot wallet. More crucially, these outflowing assets were quickly sold off through the decentralized exchange (DEX) market. After the successful sale, some of the stolen funds were transferred to the Tornado Cash mixer in an attempt to confuse the flow of funds. Another part was successfully transferred to the Bitcoin network with the help of the Thorchain cross-chain bridge and eventually deposited into the highly anonymous Wasabi wallet.
As of now, BitoPro’s response measures have drawn much attention from the outside world. Surprisingly, BitoPro neither officially disclosed this major event on the popular social platform X (formerly Twitter) nor provided detailed explanations to users in a Telegram group. It merely claimed that its trading service was “taken offline due to maintenance”. This vague response undoubtedly sparked a lot of speculation in the market. Investors are eager for BitoPro to disclose the truth of the incident as soon as possible, as well as the remedial measures and subsequent plans it has taken, in order to stabilize market confidence.
In the field of cryptocurrency trading, security issues have always been the “Sword of Damocles” hanging over the industry’s head. Previously, similar incidents of theft at crypto exchanges were not uncommon, dealing a heavy blow to investors and the entire industry. For instance, on the evening of February 21, 2025, the cryptocurrency trading platform Bybit was hacked. The attackers exploited the platform’s vulnerabilities and successfully stole over 400,000 ETH and stETH worth more than 1.5 billion US dollars (approximately 10.8 billion yuan). It can be regarded as one of the largest theft incidents in the history of cryptocurrencies.
The frequent occurrence of such incidents not only highlights the importance and urgency of security protection for cryptocurrency exchanges, but also prompts regulatory authorities, industry practitioners and investors to constantly reflect on and strengthen security guarantee measures. Golden Finance will continue to follow up and report on the subsequent developments of the BitoPro theft incident this time.
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