BitForex Rug Pull

BitForex exchange exit scammed with suspicious outflows of approximately 56,500,000 USD across multiple blockchains.

BitForex, a cryptocurrency exchange, shut down access to its platform after a suspicious outflow of approximately 56,500,000 USD across several blockchains. Users attempting to log in are blocked by CloudFlare's DDoS protection service. The exchange stopped processing withdrawals and has not been responding to customer support inquiries.

The outflows appear to be an exit scam rather than an external attack. The funds were received from multiple addresses in BitForex's hot wallets, most of the funds were on the Ethereum chain, in the TRB tokens, and remain in wallets as of Feb 29,2024.

Funds Holder as of Feb 29, 2024:

• Ethereum: Address
• Bitcoin: Address
• TRON: Address

Malicious Transactions:

Ethereum: Tx 0x1c81…8a99

Tx 0xb1ef…4753

Bitcoin: Tx 47fcf2…d100

TRON: Source