Bitrue exchange has fallen victim to a massive hack resulting in the loss of tens of billions of Shiba Inu (SHIB) tokens and other crypto worth around $23 million.
In a statement released by the exchange, Bitrue disclosed that the hot wallet in question only held less than 5% of the total funds and that the rest of its wallets remained secure and unaffected by the hack. The firm said that it has since addressed the issue and prevented further exploitation of funds. The exchange is currently investigating the situation.
PeckShield, a blockchain security firm, revealed that the wallet address associated with the bad actor exchanged the stolen QNT, SHIB, HOT, and MATIC for approximately 8,540 ETH.
The hackers exchanged 173,000 QNT, 22.55 billion SHIB, 46.4 million GALA, and 310,000 MATIC for ETH.