BitoPro, a Taiwan-based crypto exchange, confirmed a hack resulting in a loss of $11.5 million after ZachXBT flagged unusual wallet activity.
ZachXBT identified suspicious movements from BitoPro's hot wallets, where assets were funneled through Tornado Cash and deposited into Wasabi.
Despite early warnings, BitoPro remained silent until public pressure mounted, causing concerns about fund safety on centralized crypto platforms.
The exchange confirmed the breach occurred during a wallet system upgrade, assured users of fund security, but did not disclose specific details, leading to user frustration.