BitoPro XRP Partial Payment Theft

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BitoPro

Unconfirmed by BitoPro, there was an apparent exploit where the BitoPro exchange accepted a partial payment of XRP, which may then have been withdrawn from the exchange platform.

There doesn't appear to have been any follow up by BitoPro, so it's possible that the exploit did not result in a successful withdrawal on the exchange platform, or that the exchange thought it best to avoid mentioning what had happened publicly.

This exchange or platform is based in Taiwan, or the incident targeted people primarily in Taiwan.

About BitoPro

BitoPro is a cryptocurrency exchange platform developed by the BitoEX team in response to growing demand in the digital asset space. BitoEX was founded in 2014 and initially focused on offering a range of cryptocurrency solutions, including digital wallets, business applications, and financial auditing. With a strong emphasis on customer service, branding, and accessibility, BitoEX aimed to simplify entry into the cryptocurrency world for both individuals and businesses. In early 2018, after years of groundwork and market analysis, the team launched BitoPro—an international digital asset exchange designed to offer fast, secure, and user-friendly crypto trading experiences.

Headquartered in Taiwan, BitoPro supports a variety of popular cryptocurrencies such as BTC, ETH, LTC, BITO, MITH, and TRON. It provides users with real-time price tracking, market depth visualization, and convenient crypto deposit functions through its dedicated mobile app. As of now, the exchange supports 16 coins and 26 trading pairs, with a 24-hour trading volume around 444 BTC. The platform uses a maker-taker fee model—charging 0.10% for makers and 0.20% for takers—and includes features like staking BITO tokens for fee discounts and a referral program. More than 138,000 traders use BitoPro, which holds a trust score of 8, indicating a high level of reliability and user trust (BitDegree).

Despite occasionally being referred to as decentralized, BitoPro operates as a centralized exchange under the management of BitoEX. The platform places a strong emphasis on security, offering two-factor authentication (2FA), cold storage of digital assets, and regular audits. While primarily serving the Taiwanese market with support for the New Taiwan Dollar (TWD), BitoPro is accessible to users internationally. The BitoEX team continues to focus on innovation and customer satisfaction, aiming to deliver fast, economical, and high-quality trading services to a growing global user base.

This exchange or platform is based in Taiwan, or the incident targeted people primarily in Taiwan.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - BitoPro XRP Partial Payment Theft

Date	Event	Description
May 2nd, 2019	Main Event	Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

Total Amount Lost

The total amount lost has been estimated at $2,122,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

General Prevention Policies

If there was an exploit that resulted in a withdrawal from the platform, this was the result of a misconfigured wallet on the platform.

This type of situation can be avoided by a thorough understanding of the chain being used, and detected by a shortfall of balance between the database and blockchain.

This type of situation is likely to happen only once to a platform, if not already caught by a decent team.

Total Amount Lost

The total amount lost has been estimated at $2,122,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

General Prevention Policies

If there was an exploit that resulted in a withdrawal from the platform, this was the result of a misconfigured wallet on the platform.

This type of situation can be avoided by a thorough understanding of the chain being used, and detected by a shortfall of balance between the database and blockchain.

This type of situation is likely to happen only once to a platform, if not already caught by a decent team.

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.