BitoPro, a prominent Taiwanese crypto exchange founded in 2018, is suspected to have suffered a major security breach in early May—yet it has remained publicly silent.
According to blockchain analyst ZackXBT, the platform was likely hacked for approximately $11.5 million on 8 May.
On-chain data reveals that funds were siphoned from BitoPro’s hot wallets across multiple chains, including TRON, Ethereum, Solana, and Polygon.
The stolen assets were then funnelled through Tornado Cash, a widely used crypto mixer, or bridged to Bitcoin via THORChain, a decentralised exchange known for cross-chain swaps.
The laundered Bitcoin was ultimately transferred to Wasabi Wallet, a privacy-centric, open-source BTC wallet.
With a daily trading volume of around $25 million, BitoPro ranks among Taiwan’s leading crypto exchanges—raising further questions about transparency and user security in the wake of this alleged breach.
BitoPro has yet to issue an official statement regarding the suspected hack.
Since 9 May, the exchange has repeatedly cited “maintenance” issues in its official Telegram group, prompting growing frustration among users.
Many have reported persistent problems with deposits and withdrawals, raising concerns about the true nature of the disruption.
User alleges account information was changed without consent
In the wake of ZackXBT’s findings, the community has accused BitoPro of using prolonged “maintenance” notices to obscure a serious breach.
Missing funds raise questions about insider access
Incidents like this continue to erode public trust in crypto platforms—an issue not limited to smaller exchanges.
Even major players have been targeted.
In February, leading exchange Bybit suffered a $1.5 billion hack but responded with transparency and has since restored liquidity to pre-incident levels.
The contrast highlights the growing importance of openness and accountability in the face of security challenges.
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