ZachXBT Uncovers Bitbns Hack: Exchange Says Law Enforcement Advised Against Disclosure
A $7.5 million hack of the Indian crypto exchange Bitbns in February 2025 has been brought to light by prominent crypto sleuth ZachXBT. The exchange reportedly didn't make the hack public to its users, instead claiming it was system maintenance. This alleged cover-up has sparked significant controversy within the crypto community.
The hack was first uncovered and made public by pseudonymous crypto detective ZachXBT. He took to Twitter on Wednesday, asking his followers to call out the crypto exchange for allegedly hiding the incident. According to ZachXBT, Bitbns disguised the $7.5 million hack as routine system maintenance.
ZachXBT's tweet quickly gained traction, bringing the alleged incident to the attention of a wider audience. The tweet detailed the on-chain findings that led ZachXBT to conclude that a significant security breach had occurred.
Bitbns, founded by Gaurav Dahake, has responded to the allegations, stating that law enforcement authorities advised against making the hack public. The exchange claims this advice was given to facilitate the investigation and recovery of the stolen funds. The exchange says law enforcement authorities advised against disclosure of the February 1, 2025 incident.
ZachXBT is alleging that the Indian exchange Bitbns was hit by a $7.5 million hack, but claims the exchange disguised it as system maintenance. This claim is based on ZachXBT's on-chain analysis, which reportedly reveals suspicious transactions and fund movements consistent with a hack.
The controversy surrounding the Bitbns hack highlights the ongoing need for transparency and accountability within the cryptocurrency industry. While law enforcement involvement can be crucial for investigating cybercrime, the alleged lack of disclosure raises questions about the exchange's responsibility to its users.
Stay tuned for further updates as this story develops. El detective cripto ZachXBT acusa a exchange Bitbns de “disfrazar hack” de $7,5 millones, a claim that is currently under scrutiny.