Blockchain investigator ZachXBT revealed significant $11.5 million outflows from Taiwan-based cryptocurrency exchange BitoPro's hot wallets on May 8, 2025. Despite the breach, BitoPro has not issued any official statement, merely attributing the incident to "system maintenance."
The stolen assets included tokens from multiple blockchains such as Tron, Ethereum, Solana, and Polygon. The funds were reportedly converted on decentralized exchanges before being moved through privacy-preserving protocols like Tornado Cash, Thorchain, and Wasabi Wallet, complicating tracing efforts.
This incident has raised serious security and transparency concerns among users, leading to distrust in the platform. Meanwhile, potential regulatory scrutiny targeting hot wallet management and security practices has been anticipated as authorities monitor such exploits closely.
The lack of clarity from BitoPro has amplified community worries, echoing past exchange breaches such as the 2020 KuCoin hack, where stolen assets were similarly laundered using privacy tools. Market participants await further updates to assess the extent of damage and possible institutional or regulatory repercussions.
Financially, the exploit affects liquidity on BitoPro and may deter users from trusting the exchange going forward. It is also expected to influence tighter security controls and regulatory frameworks around hot wallets in the crypto exchange industry.