Verify a decision

{"actor":"system:backfill","investigation_id":"43cef8ae-9c17-4fa8-aedc-da32e514e543","kind":"publish","page_slug":"bitrue","published_at":"2026-05-20T18:36:42.761Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Bitrue","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://iq.wiki/wiki/bitrue"},{"credibility":3,"name":"","type":"other","url":"https://www.cbinsights.com/company/bitrue/people"},{"credibility":3,"name":"","type":"other","url":"https://en.everybodywiki.com/Bitrue_Inc"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/business/2023/04/14/crypto-exchange-bitrue-drained-of-23m-in-hack-of-ether-shiba-inu-other-tokens"},{"credibility":3,"name":"","type":"other","url":"https://cointelegraph.com/news/crypto-exchange-bitrue-suffers-23m-hack-due-to-hot-wallet-eploit"},{"credibility":3,"name":"","type":"other","url":"https://coinedition.com/bitrue-hack-wallet-launders-funds-tornado-cash/"},{"credibility":3,"name":"","type":"other","url":"https://coinedition.com/bitrue-hacker-tornado-cash-laundering-crypto-security-update/"},{"credibility":3,"name":"","type":"other","url":"https://www.tronweekly.com/bitrue-hacker-launders-23m-via-tornado-cash-nets-9-3m-profit-in-eth/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.bitrue.com/blog/Bitrue-Secures-VASP-Registration-in-Lithuania"},{"credibility":3,"name":"","type":"other","url":"https://blockchainreporter.net/bitrue-gets-lithuanian-vasp-license-expanding-eu-digital-services/"},{"credibility":3,"name":"","type":"other","url":"https://coinjournal.net/news/bitrue-gets-virtual-asset-service-provider-approval-in-lithuania/"},{"credibility":3,"name":"","type":"other","url":"https://cexfinder.com/gemini-singapore-bitrue-lithuania-licenses/"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://beincrypto.com/xrp-forensics-calls-out-bitrue-for-shuttering-users/"},{"credibility":3,"name":"","type":"other","url":"https://github.com/ccxt/ccxt/issues/20613"},{"credibility":3,"name":"","type":"other","url":"https://www.ipetitions.com/petition/crypto-exchange-bitrue-is-stealing-money-from-its"},{"credibility":3,"name":"","type":"other","url":"https://www.trustpilot.com/review/www.bitrue.com"}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"","type":"other","url":"https://www.coindesk.com/business/2023/04/14/crypto-exchange-bitrue-drained-of-23m-in-hack-of-ether-shiba-inu-other-tokens"},{"credibility":3,"name":"","type":"other","url":"https://brokerchooser.com/safety/bitrue-broker-safe-or-scam"},{"credibility":3,"name":"","type":"other","url":"https://tradersunion.com/scam-or-safe/bitrue-review/"}]}],"sources_used":[],"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.","timeline":[{"date":"2018-07-01","event":"Bitrue founded in Singapore by Curis Wang and co-founders, initially supporting five cryptocurrencies with XRP focus.","source":""},{"date":"2021-02-12","event":"XRP Forensics publicly calls out Bitrue for freezing user accounts without clear justification; Bitrue cites arbitrage trading ban.","source":""},{"date":"2023-04-14","event":"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.","source":""},{"date":"2023-04-18","event":"Bitrue restores withdrawal services after security review. Exchange states all affected users will be compensated in full.","source":""},{"date":"2023-12-01","event":"User alleges Bitrue seized $12,000 in assets citing a 'trading attack' involving automated scripts; case documented on GitHub.","source":""},{"date":"2024-03-01","event":"Previously dormant Bitrue hack wallet reactivates; attacker sells 4,207 ETH, generating approximately $16.3 million in DAI.","source":""},{"date":"2024-10-28","event":"Bitrue Lithuania UAB receives VASP registration from Lithuania's FNTT (registration 306725033), the exchange's first formal regulatory credential.","source":""},{"date":"2025-06-01","event":"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.","source":""}]},"v":1}