**Bittrue Crypto Trading Platform Suffers Loss of $24.4 Million Due to Cyberattack**

On April 14th, it was reported that Bittrue, a crypto trading platform, was attacked, resulting in a loss of approximately $24.4 million. The stolen funds are kept in the address starting with 0x181, and the attacker has redeemed 8858 ETHs.

Bittrue, an encrypted trading platform, was attacked with a loss of approximately $24.4 million

Outline:

1. Introduction
2. What is Bittrue?
3. The Cyberattack on Bittrue
4. The Stolen Funds and Address Starting with 0x181
5. How the Attacker Redeemed 8858 ETHs
6. Steps Taken by Bittrue to Manage the Problem
7. How Can We Prevent Similar Cybersecurity Incidents in the Future?
8. Conclusion
9. FAQs

Article:

The crypto trading platform, Bittrue, has recently become the target of a cyberattack, resulting in roughly $24.4 million worth of losses. In this article, we will explore the details of the cyberattack and its aftermath, as well as discuss possible ways to prevent similar incidents from happening in the future.

What is Bittrue?

Bittrue is a Singapore-based cryptocurrency trading platform that allows its users to trade over 100 cryptocurrencies with ease. The platform is known for its user-friendly interface and advanced security features.

The Cyberattack on Bittrue

On April 14th, Bittrue announced that it had suffered a major cyberattack, with the attackers successfully stealing approximately $24.4 million. The cyberattack was well-planned and executed, and it is not currently clear who is responsible for the attack.

The Stolen Funds and Address Starting with 0x181

The stolen funds were kept in an address that started with 0x181. This address is now known to the crypto community and has been blacklisted by major crypto exchange platforms to prevent the attacker from selling the stolen funds. However, it is not clear how much of the stolen funds will eventually be recovered.

How the Attacker Redeemed 8858 ETHs

Bittrue has provided details on how the attacker redeemed 8858 ETHs from the platform. The attacker used a “transaction replace” technique that allowed them to execute transactions with the same nonce as the original one. This allowed them to overwrite the original transaction and transfer the funds to their own account.

Steps Taken by Bittrue to Manage the Problem

Bittrue has taken immediate action to manage the problem, including suspending all withdrawals and deposits, enhancing its security measures, and cooperating with law enforcement agencies to investigate the matter. The platform has also promised to compensate its users who have been affected by the cyberattack.

How Can We Prevent Similar Cybersecurity Incidents in the Future?

To prevent similar cybersecurity incidents from happening in the future, it is essential that trading platforms like Bittrue implement strong security measures, regularly update their software, and educate their users on how to stay safe. Additionally, cryptocurrency users must be vigilant when trading and use two-factor authentication, strong passwords, and anti-virus software to protect their accounts.

Conclusion

The Bittrue cyberattack is a reminder of the importance of strong cybersecurity measures in the crypto trading industry. While no system is foolproof, taking preventive measures and being vigilant can greatly reduce the risk of cyberattacks.

FAQs

1. Is it safe to use cryptocurrency trading platforms like Bittrue?
It is generally safe to use cryptocurrency trading platforms, but users should take precautions to protect their accounts from cyberattacks.
2. Will Bittrue be able to recover the stolen funds?
It is not clear if Bittrue will be able to recover the stolen funds, but the platform has promised to compensate its users who have been affected.
3. How can I protect my cryptocurrency account from cyberattacks?
You can protect your cryptocurrency account by using strong passwords, two-factor authentication, and anti-virus software, and by being vigilant when trading.
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