The Taiwanese cryptocurrency exchange BitoPro disclosed that they had suffered a theft from one of their hot wallets, which they said occurred during a system upgrade in which they were transferring assets between wallets.The theft was originally noticed by crypto sleuth zachxbt, who observed a suspicious transfer of around $11.5 million in crypto assets on May 8. The funds sold on decentralized exchanges and then laundered through various cryptocurrency mixing services.BitoPro originally only told customers that the platform was offline for “maintenance”, but disclosed the theft on June 2 after zachxbt published his findings.

Total loss estimated at $11,500,000.