• Bitrue, a cryptocurrency exchange platform, has suffered a hack.
• Withdrawals are expected to resume on April 18, 2023.
• The team at Bitrue has pledged to compensate all identified users affected.

Recently, a report has disclosed that the Bitrue cryptocurrency exchange platform has suffered a hack. As a result, the platform lost a considerable amount of capital valued at approximately $23 million.

On their official Twitter account, the Bitrue cryptocurrency exchange team announced that they quickly addressed a matter and prevented further exploitation of funds. They emphasized their serious attitude towards the issue and stated they were investigating it.

 The Bitrue team has also stated that the cybersecurity criminal was able to withdraw funds in ETH, QNT, GALA, SHIB, HOT, and MATIC from one of their hot wallets. However, the team has assured that this wallet only held less than 5% of their total funds and that the rest of their wallets have remained secure and uncompromised.

In response to the recent hack on their platform, Bitrue has announced that they will temporarily halt all withdrawals to conduct a thorough investigation into the cause of the breach. This measure will provide the team with sufficient time to identify the root cause of the hack. Moreover, the firm ensures implementing appropriate measures to prevent similar incidents from happening in the future. The withdrawals on the platform are expected to resume on April 18, 2023.

Furthermore, the executives at Bitrue have pledged to compensate all identified users affected by the recent incident fully. 

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