Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·fEhodE…NW5GSummary
Bitrue is a Singapore-incorporated centralized cryptocurrency exchange founded in 2018 that suffered a confirmed $23 million hot wallet exploit in April 2023, with stolen funds subsequently laundered through Tornado Cash as recently as June 2025. The exchange holds no license from Singapore's Monetary Authority (MAS) and relies on a VASP registration in Lithuania — a lower-tier regulatory framework — while accumulating a persistent record of user complaints alleging unjustified account freezes and asset seizures.
Connected Entities
1 entity · 2 linked investigationsConnected Through
1 shared actor · 2 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Bitrueorganization
Timeline(8 events)
July 2018
Bitrue founded in Singapore by Curis Wang and co-founders, initially supporting five cryptocurrencies with XRP focus.
12 February 2021
XRP Forensics publicly calls out Bitrue for freezing user accounts without clear justification; Bitrue cites arbitrage trading ban.
14 April 2023
Attacker exploits a Bitrue hot wallet at 07:18 UTC, draining approximately $23 million in ETH, QNT, GALA, SHIB, HOT, and MATIC. All withdrawals suspended.
18 April 2023
Bitrue restores withdrawal services after security review. Exchange states all affected users will be compensated in full.
December 2023
User alleges Bitrue seized $12,000 in assets citing a 'trading attack' involving automated scripts; case documented on GitHub.
March 2024
Previously dormant Bitrue hack wallet reactivates; attacker sells 4,207 ETH, generating approximately $16.3 million in DAI.
28 October 2024
Bitrue Lithuania UAB receives VASP registration from Lithuania's FNTT (registration 306725033), the exchange's first formal regulatory credential.
June 2025
On-chain analyst @EmberCN reports Bitrue hack wallet laundering approximately $12.65 million (4,600 ETH) through Tornado Cash in structured multi-stage operations. Total stolen proceeds estimated at $32.4 million after ETH appreciation.
Decision Log
- hash: 31umhcZkPpvKE8DdXEsq8eWrpsiSg3xw8mwNouA3WnGz
This investigation is cryptographically anchored to the Solana blockchain (1 event). 12 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:42 AM
last updated: 9/15/2026, 5:57:06 PM
6 viewsavoid.net — verified advice for a post-truth world