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ID:

bitopro-624

Date:

Status:

Incident Count:

May 2, 2019

Verified

1

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REKT

Contributor:

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zerofriction.io

KYC By:

KYC:

None

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Audit By:

Audits:

None

Loss Amount:

2,122,000

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Recovered:

-

Rewards:

Currency:

USD, XRP

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Key Indicators

Platform:

Type:

Category:

Method:

Data Sources:

XRP

Exchange

Assets

Contract Vulnerabilities

Extended Method:

fake deposits

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Days in Operation:

42804

(117.27 Years)

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BitoPro is developed by BitoEX team, who started BitoEX in 2014 which provides cryptocurrency solutions such as digital wallet, business application, financial auditing and more. Taiwan exchange BitoPro's XRP suffered an attack that caused a price crash and is thought to have lost about 7m XRPS. The said vulnerability allows a user to fake an XRP deposit transaction and then dump the sent “XRP” tokens on the exchange. In this case, the crooked user faked a deposit of 330,000 XRP, but the actual XRP delivered were just 0.003255 XRP. In effect, BitoPro ended up losing 7 million XRP. Bitrue took the step to expose the flaw and let other exchanges and users know about it to save them from further loses.

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