Quant (QNT) experienced a significant drop, decreasing by 11% within three hours, as a Bitrue Drainer-labeled address swapped 173,000 QNT, according to a tweet by Peckshield. The tweet also highlighted suspicious activity with the QNT/WETH pair on Uniswap v3.
It was noted that Bitrue’s wallet sent 320 ETH to an unknown wallet, which then swapped it for various amounts of QNT, SHIB, GALA, HOLO, and MATIC before dumping the tokens. Peckshield warned against investing in these tokens until further clarity was provided.
The unknown wallet, which was actively dumping QNT on Uniswap, initially held approximately 61,000 QNT, and later dwindled to 50,000, then to 40,000 QNT. Interestingly, the wallet appeared to pause the selling process and wait for other buyers to purchase QNT on Uniswap before resuming the sales when the price increased.
Notably, Bitrue has acknowledged a brief exploit in one of their hot wallets on April 14, 2023, at 07:18 UTC. The company quickly addressed the issue and halted further exploitation of funds.
Furthermore, the exchange has said that it is currently investigating the situation, taking it very seriously. The attackers managed to withdraw assets worth approximately $23 million in ETH, QNT, GALA, SHIB, HOT, and MATIC. The affected hot wallet held less than 5% of Bitrue’s overall funds, with the remainder of their wallets remaining secure and uncompromised.
In order to conduct additional security checks, Bitrue temporarily suspended all withdrawals, with plans to reopen them on April 18, 2023. The company asked for understanding and patience from its users during this time.
