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Detail Analysis

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Date:

Status:

Count:

Contributor:

May 2, 2019

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Verified

1

zerofriction.io

Loss Amount:

2,122,000

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Recovered Amount:

-

Currency:

Dollars, XRP

KYC By:

Audit By:

None

None

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Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

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Key Indicators

Platform:

Type:

Category:

Method:

XRP

Exchange

Assets

Contract Vulnerabilities

Extended Method:

fake deposits

Data Sources:

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BitoPro is developed by BitoEX team, who started BitoEX in 2014 which provides cryptocurrency solutions such as digital wallet, business application, financial auditing and more. Taiwan exchange BitoPro's XRP suffered an attack that caused a price crash and is thought to have lost about 7m XRPS. The said vulnerability allows a user to fake an XRP deposit transaction and then dump the sent “XRP” tokens on the exchange. In this case, the crooked user faked a deposit of 330,000 XRP, but the actual XRP delivered were just 0.003255 XRP. In effect, BitoPro ended up losing 7 million XRP. Bitrue took the step to expose the flaw and let other exchanges and users know about it to save them from further loses.

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DISCLAIMER: While Zero Friction LLC has used the best efforts in aggregating and maintaining this database, Zero Friction LLC makes no representations or warranties with respect to the accuracy or completeness, and specifically disclaim any implied warranties of merchantability or fitness for any particular purpose. 

Under no circumstances, shall Zero Friction LLC be liable for any loss of profit or funds, any regulatory or governmental penalties, any legal costs, or any other commercial and non-commercial damages, including but not limited to special, incidental, consequential, or other damages from any or all usage of the dataset or information derived from our database.