Bitrue Security Incident Update: Full Compensation and Token Restrictions Lifted

04/18/2023 00:33 • NFT Newsflash • 120 views

On April 18th, it was reported that Bitrue, a digital asset trading platform, released a security incident update, stating that all users affected by the incident will receive full compensation and have partially completed the security check. Therefore, normal operation of all tokens except for QNT, MATIC, and HOT can be restored, and efforts will continue to be made to complete the security check as soon as possible.

Bitrue: All users affected by security incidents will receive full compensation

Bitrue, a leading digital asset trading platform, recently released a security incident update on April 18th, 2021. The update reports that all users affected by the incident will receive full compensation and have partially completed security checks. This news is a relief for Bitrue users who had been impacted by the security breach.

What Happened?

Bitrue suffered a security breach on April 15th, which led to unauthorized access to its hot wallet. The unauthorized access resulted in approximately $4.2 million worth of digital assets stolen from Bitrue. However, the exchange assured its users that all stolen funds would be covered by its assets and insurance fund.

Compensation and Security Check

Bitrue immediately froze all affected accounts after the security breach and has since conducted a thorough security check. Fortunately, the exchange’s insurance fund covers all losses and affected users can expect to receive full compensation. In addition, accounts that were not impacted by the incident have now been fully restored.
While the investigation is ongoing, Bitrue states that no user assets have been compromised beyond the loss of the stolen digital assets. The exchange has lifted token restrictions for all tokens except for QNT, MATIC, and HOT.

When Will All Tokens Be Restored?

Bitrue has been working diligently to complete the security check and fully restore all affected tokens. The exchange has not provided a specific timeline, but has affirmed that restoring all tokens is a top priority. For now, users can access their balances for other tokens as normal.

Conclusion

The security breach at Bitrue caused considerable concern for users of the platform. However, Bitrue has committed to fully compensating all affected users and has partly completed the security check to prevent a similar incident from happening again. While the restoration of full token functionality is still pending, users can rest assured knowing that their assets are safe and secure.
###FAQs
Q: How much was lost in the security breach at Bitrue?
A: Approximately $4.2 million worth of digital assets were stolen in the security breach.
Q: Will affected users be compensated for their losses?
A: Yes, Bitrue’s insurance fund and assets cover all losses suffered by users.
Q: Are all tokens now fully restored on Bitrue?
A: No, token restrictions have been lifted for all tokens except QNT, MATIC, and HOT. Efforts are being made to restore all tokens as soon as possible.

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