It’s only June, the crypto world has already lost Rp244 billion! Who is behind these two hacks?

Jakarta, Pintu News – The start of June 2025 was immediately marked by two major hacking events in the cryptocurrency world that attacked key infrastructure: Nervos Network’s Force Bridge and Taiwanese exchange platform BitoPro. These two incidents caused a combined loss of $15.2 million or the equivalent of Rp247.76 billion (exchange rate $1 = Rp16,300), signaling a serious lack of security in the crypto sector.

Force Bridge Hacked, Rp60 Billion Funds Wiped Out

Force Bridge, a cross-chain bridge functioning within the Nervos Network ecosystem, suffered a cyberattack on June 1, 2025. According to a report from Cyvers Alerts, a hacker managed to gain access to the system and stole assets worth approximately $3.7 million.

The stolen assets consisted of 257,800 USDT, 539.09 ETH, 898,300 USDC, 60,400 DAI, and 0.79 WBTC. Once stolen, these assets were converted to ETH and sent to Tornado Cash, a known transaction-mixing tool that makes tracking transactions extremely difficult. Of the total funds affected, approximately $3.1 million was on the Ethereum network and $600,000 was on the BNB Chain network.

The operator, Magickbase, suspended the investigation service as soon as it detected unusual activity. However, this quick move has not been able to prevent the losses incurred. Currently, the Force Bridge service for ETH/BSC to CKB has been temporarily disabled.

Also Read: Pi Network (PI) Token is Ready to Flood! What Happens If the Price Falls Below IDR6,500?

BitoPro Exchange Allegedly Hacked, Losses Reach Rp187 Billion

On the same day, renowned blockchain analyst ZachXBT reported an alleged cyberattack against BitoPro, a Taiwanese exchange. The attack allegedly took place on May 8, 2025 and managed to steal around $11.5 million from BitoPro’s hot wallet.

There was no official statement from BitoPro when the first reports circulated. However, the exchange later confirmed that their old wallet was indeed hacked during the system upgrade and asset reallocation process. This incident tarnished the reputation of BitoPro, which the day before recorded a trading volume of over $24 million.

The incident also sparked concern as it occurred in close proximity to previous attacks. BeInCrypto reported that total hacking losses in the cryptocurrency industry throughout May 2025 reached $244 million (Rp3.97 trillion), making the sector even more vulnerable to cyber threats.

Bridge and Exchange Safety Standards Questioned

Cross-chain bridges like Force Bridge have long been recognized as a vulnerable point in blockchain systems. Wanchain CEO Temujin Louie highlighted that as long as the industry continues to rely on proprietary solutions and does not develop open and thoroughly validated interoperability standards, then hacks like this will continue to recur.

On the other hand, the BitoPro case is another reminder of the importance of solid operational security practices, especially when upgrading systems or transferring assets. Hot wallets, while convenient for high liquidity, should be managed with maximum security measures to avoid access leaks.

Conclusion

Two major hacks in early June 2025 remind us that while crypto technology is growing, its security risks are still a major challenge. Strengthening security infrastructure, standardizing the industry, and increasing transparency are key to preventing billions of rupiah in losses like the recent ones.

Also Read: XRP is in Freefall! Is This a Sign of a Big Storm in the Crypto World?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Two Crypto Hacks Kickstart June with $15 Million in Losses. Accessed June 3, 2025.
• Featured Image: Generated by Ai