Leading cryptocurrency exchange Bitrue has published a security report detailing a 0-day exploit on the Solana chain that hackers used to attack multiple exchanges on August 26. It is believed that all exchanges that support Solana’s SPL tokens were targeted, which includes Bitrue and Binance among others.
A 0-day exploit means that the nature of the bug was not previously known to anybody except
hacking groups, and therefore could not be completely prepared against in advance. Despite
this disadvantage, Bitrue identified and thwarted the attack within 20 minutes due to its
round-the-clock security reviews and robust automated security systems.
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“At Bitrue we have developed numerous proprietary security functions to create a multi-tier
danger recognition system, which was successfully invoked on this occasion. The moment that
suspicious activity was identified our trained researchers investigated the accounts of the
hackers and were able to massively mitigate any damage. This event has justified our belief that
heavy investment in proactive safety measures is a necessary goal for any major player in our
industry.” said Robert Chang, Chief Security Officer at Bitrue.
The attack involved the hackers attempting to merge an SPL wallet with an exchange’s main
SOL wallet, to fool the exchange into thinking that a deposit of SPL tokens had been completed.
More detailed information of the attack process is available on Bitrue’s helpdesk.
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“While cryptocurrency is not the wild west that it used to be, this is a strong reminder that there
are many bad-faith actors out there who are always researching novel ways to steal the funds of
users and exchanges. At Bitrue we invest heavily in our security processes so that we are
always ready to intercept attackers like this, which is why over 4 million traders trust Bitrue with
their funds.” said Adam O’Neill, Chief Marketing Officer at Bitrue.
Bitrue was the first exchange to support Solana’s SPL tokens and they remain committed to
supporting Solana in the future, with numerous SPL projects in their listing pipeline. They wish
to thank the Solana team for their quick communication and assistance when reacting to this
attack. They would also recommend other exchanges to cease the use of AUX transactions in
the future – a vestigial part of the Solana topology which was the underlying cause of the exploit.
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