BitoPro

On May 8, 2025, BitoPro, a cryptocurrency exchange, was targeted in a hack that resulted in an estimated $11.5 million in losses from its hot wallets. The attack occurred during a wallet system upgrade and asset transfer process, exploiting vulnerabilities in the funds allocation mechanism. BitoPro confirmed the breach, noting that the old hot wallet was compromised, but had not issued an official statement at the time of reporting. The incident underscores the persistent security challenges faced by cryptocurrency exchanges, particularly during system upgrades, and highlights the need for enhanced hot wallet protection and robust security protocols to safeguard user assets.