Taiwan’s BitoPro Crypto Exchange Suspected of $11.5M Heist

BitoPro Alleged $11.5M Theft During “System Maintenance”

The Taiwan-registered exchange BitoPro, founded by Titan Cheng, has faced suspicions of a crypto theft. The exchange cited “system maintenance” as the reason for suspending services on May 8, 2025.

Blockchain detective ZachXBT identified fund movements allegedly linked to BitoPro’s heist, encompassing major cryptocurrencies like Ethereum and Tron. BitoPro leadership has yet to release official statements.

Community Calls for Enhanced Security and Transparency

The cryptocurrency community expresses concerns over the lack of clear communication. Calls for improved exchange security and transparency echo across forums, influencing user trust, and market dynamics.

Financial implications include potential loss of user confidence, which may impact BitoPro’s market standing. Crypto assets were reportedly moved through decentralized exchanges, complicating asset recovery.

Heist Highlights Rising Sophisticated Cybercriminal Activity

This incident trails a similar event where North Korea allegedly stole $1.5 billion in digital assets from another exchange, suggesting a trend of rising sophisticated cybercrimes in the industry.

Considering previous infractions and heist occurrences, industry experts suggest possible outcomes involving stricter regulations and increased cybersecurity spending within the cryptocurrency sector.

Titan Cheng, Founder and CEO, BitoGroup: “Taiwan officially established a cryptocurrency industry association with 24 crypto firms, chaired by myself.”