Singapore-based cryptocurrency exchange Bitrue has been hacked for around $4.2 million in user assets.
The platform announced the breach in tweets, saying that the event was identified at around 1 a.m. local time Thursday. Users funds are insured and anyone who lost cryptocurrency would be refunded, according to the company.
The exchange said:
“First of all, please let us assure you that this situation is under control, 100% of lost funds will be returned to users, and we are reviewing our security measures and policies to ensure this does not happen again.”
Bitrue further detailed that 9.3 million XRP, worth $4.01 million, and 2.5 million cardano (ADA), worth $231,800, had been accessed and transferred off its platform.