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BitoPro confirms hack of $11.5 million from old hot wallets – users continue to withdraw money despite losses”
BitoPro Confirms $11.5 Million Hack from Old Hot Wallets Taiwanese cryptocurrency exchange BitoPro has announced a security incident in which an amount of $11.5 million was stolen from old hot wallets. Despite these significant losses, users can still withdraw their funds without any problems. The affected exchange has taken measures to increase the security of its platform and prevent further attacks. The circumstances of the hack are currently under investigation and BitoPro is working to inform all affected customers of the situation. The events surrounding the hack highlight the risks associated with using hot wallets. Hot…
BitoPro confirms hack of $11.5 million from old hot wallets – users continue to withdraw money despite losses”
BitoPro confirms $11.5 million hack from old hot wallets
Taiwanese cryptocurrency exchange BitoPro has disclosed a security incident in which an amount of $11.5 million was stolen from outdated hot wallets. Despite these significant losses, users can still withdraw their funds without any problems.
The affected exchange has taken measures to increase the security of its platform and prevent further attacks. The circumstances of the hack are currently under investigation and BitoPro is working to inform all affected customers of the situation.
The events surrounding the hack highlight the risks associated with using hot wallets. Hot wallets are crypto address systems that are connected online and are therefore more vulnerable to hacks. In contrast, cold wallets, which are stored offline, offer a more secure way to manage digital assets.
Despite the incident, the exchange shows a willingness to compromise by allowing users to continue withdrawing without restrictions. This could maintain trust in BitoPro while security measures are implemented.
It remains to be seen how the situation will develop and whether BitoPro will be able to recover the lost sum. Users should be aware of how to minimize risks associated with cryptocurrencies and take appropriate security precautions to protect their digital assets.