Cryptocurrency Hacks Result in $15.2 Million Loss

Two significant hacks in the cryptocurrency space this week have resulted in combined losses of $15.2 million, raising concerns about the security of cross-chain systems and exchanges. The first incident involved the Nervos Network’s Force Bridge, where hackers drained approximately $3.7 million in assets. The second incident targeted the BitoPro exchange, with an estimated loss of $11.5 million from its hot wallet assets.

The hack on the Nervos Network’s Force Bridge occurred on June 1, 2025, when a suspicious address gained control of the bridge. The hacker successfully stole around $3 million in assets, including 257,800 USDT, 539.09 ETH, 898,300 USDC, 60,400 DAI, and 0.79 WBTC. These funds were subsequently converted to ETH and transferred to Tornado Cash, a transaction anonymization tool, making it difficult to trace the stolen assets. The total confirmed losses from this incident amounted to $2,655,500 as of 07:17:04 on June 1, 2025 (UTC).

Magickbase, the operator of Force Bridge, detected abnormal activity at 03:12 on the same day and promptly suspended investigation services. However, this swift response was not enough to prevent the losses. In a latest statement, Magickbase reported that the total amount of funds affected is approximately $3.7 million, with roughly $3.1 million on the Ethereum chain and approximately $600,000 on the BNB Chain. For safety reasons, Force Bridge (ETH/BSC to CKB bridge) has been temporarily disabled until further notice.

On the same day, another hack was reported involving BitoPro, a cryptocurrency exchange. According to a post, BitoPro was likely attacked on May 8, 2025, with estimated losses of up to $11.5 million from its hot wallets. BitoPro has confirmed that the old hot wallet had been attacked during the funds allocation process during the wallet system upgrade and asset transfer operations. At the time of reporting, BitoPro has not issued an official statement regarding the incident.

These recent incidents highlight the ongoing vulnerabilities within the cryptocurrency space, emphasizing the need for improved security measures. With losses exceeding $15 million, industry stakeholders are called to act swiftly to enhance security protocols and protect user assets. The hacks underscore the importance of robust security frameworks in cross-chain systems and exchanges to prevent such incidents in the future.