Indian cryptocurrency exchange Bitbns lost $7.5 million worth of crypto as a result of a hacker attack, which happened in February last year.
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Bitbns Founder, Gaurav Dahake, admitted in an AMA session on Wednesday the exchange noticed anomalies in its servers and decided to temporarily shut down the platform. Dahake didn't reveal the amount of the stolen crypto.
The revelation comes shortly after crypto researcher ZachXBT revealed in a tweet that Bitbns hid the $7.5 million attack from users and tried to cover up the incident with a "system maintenance." According to his investigation, the stolen funds were converted to ether (ETH) and later sent to different addresses.
Bitbns was founded in 2017 by Prashant Singh, according to Crunchbase. The Bengaluru-based exchange offers trading services with bitcoin (EXANTE: Bitcoin), ether (ETH), and other altcoins. Amid the news, the exchange's native token BNS plunged 11.4% to $0.0004261, according to data from Nomics.
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