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Bitrue

avoid.net/bitrue→71/100·100% conf.
[✓ FACT-CHECKED]· reviewed once · last review 27 Oct 2026[src:defillama]

Last changed 2026-10-27 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →

Why this score
Every page starts at65
Concerns that are not fraud-9.6
Incidents it suffered (e.g. hacks)-3.2
Problems around it, caused by others-0.8
Long-running+10
Regulated+10
Sum71

Score: 71/100 (kept between 0 and 100)

How scoring works →

Page reliability: Fact-checked 2026-10-27 · 5 of 9 claims confirmed · 4 need better sources

anchored·fEhodE…NW5G
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Summary

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 investigations
Organizations
□Bitrue
Also appears in
Avici·59Levana Perps·22

Connected Through

1 shared actor · 2 investigations

Distinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.

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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.

Provenance & Audit Trail
Recorded on Solana ✓Verify on-chain12 Wayback Archivessrc:defillama

Decision Log

  • #4review reviseRecorded on Solana ✓10/27/2026, 6:49:05 PM
    slot 462177986 · hash 3zkdyoLrYzjiVmJLWx8ZV8SMfH31jkMcGZ74GGS5JCEF
  • #3reviewRecorded on Solana ✓10/27/2026, 6:49:04 PM
    slot 462177981 · hash 3ycSaxcFTfEGECtY57mhzTrXLXsFC8jcyq3oUFxJQzYw
  • #2rescore+53Recorded on Solana ✓10/10/2026, 6:48:41 PM
    slot 455368605 · hash A8ujvPnWPEY5WtJNP3MKCxtEvsHzUeMcaokPYkdTpyjz
  • #1publishRecorded on Solana ✓5/20/2026, 6:36:42 PM
    slot 421041192 · hash 31umhcZkPpvKE8DdXEsq8eWrpsiSg3xw8mwNouA3WnGz

This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 12 of 18 cited source URLs have an Internet Archive snapshot.

Fact-checked 2026-10-279 claims checked0 corrections pending0 applied⛓ anchoredSee findings →
full audit log →version history →

model: claude-sonnet-4-6

generated: 5/4/2026, 2:54:42 AM

last updated: 10/27/2026, 6:49:05 PM

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