Search Results for “Daniel Palmer”


June 27, 2019
Daniel Palmer / Coindesk

Daniel Palmer / Coindesk  
Singapore Cryptocurrency Exchange Bitrue Hacked With Around $4.2 Million in Ripple, Cardano Currencies Stolen

Singapore-based cryptocurrency exchange Bitrue has been hacked for around $4.2 million in user assets, the platform announced on Twitter, with 9.3 million in Ripple currency (XRP), worth $4.01 million, and 2.5 million Cardano currency (ADA), worth $231,800, accessed and transferred off its platform. The hack occurred at around 1 a.m. local time Thursday. The company said in a tweet that “[a] hacker exploited a vulnerability in our Risk Control team’s 2nd review process to access the personal funds of about 90 Bitrue users. The hacker used what they learned from this breach to then access the Bitrue hot wallet and move 9.3 million XRP and 2.5 million ADA to different exchanges.” Users funds are insured and anyone who lost cryptocurrency would be refunded, according to the company.