• On April 14, Bitrue (BTR) exchange suffered a hack which resulted in a 7.6% decrease in the price of Quant (QNT) token.
• The attack managed to withdraw assets worth approximately 23 million USD from a hot wallet.
• To ensure complete security, Bitrue suspended all withdrawals until April 18 and has promised to compensate all affected users.
On April 14, the cryptocurrency community noticed an unexpected 7.6% decline in Quant (QNT) token price. This was due to a hot wallet exploit on Bitrue (BTR) exchange at 07:18 UTC that same day. In response, the exchange team published an official notice at 10:00 UTC and announced that they had prevented further exploits of funds. The attackers were able to withdraw assets worth approximately 23 million USD in various currencies including ETH, QNT, GALA, SHIB, HOT and MATIC. As a precautionary measure, all withdrawals have been suspended until April 18 while the team conducts security checks to ensure complete safety for users‘ funds. All identified users who are affected by this incident will be compensated in full as well.
Exploited Wallet Details
Crypto intelligence company Arkham shared further details about the exploited wallet on its Twitter account. According to Arkham’s data, around $24.4 million was stolen mainly in QNT, Gala (GALA), and SHIBA INU (SHIB). The attacker swapped majority of these tokens into 8,858 Ethereum (ETH) and is currently keeping them in 0x181 wallet with most of SHIB and Holo (HOT) not touched yet by them.
As per CryptoSlate charts, the QNT token’s fall started on April 14 at 01:00 UTC at $127.28 before dropping down to $117.59 by 05:00 UTC – marking a 7.6% decrease within just 4 hours total time span! At the time of writing this article QNT is being traded for around $121 – reflecting a -0.81% decrease over last seven days and -4