Bitrue review: score, licensing and risks
51/100SCORE · DCaution
Grade D, caution
Bitrue has suffered two hot wallet breaches, around 4.5 million dollars in 2019 and around 23 million in 2023, reimbursing users on both occasions. It holds no meaningful licence and transparency is limited.
The facts
- FOUNDED
- 2018
- HEADQUARTERS
- Singapore
- CUSTODY
- Custodial.
- MiCA / EEA
- Not authorised.
- US ACCESS
- No.
- PROOF OF RESERVES
- No standard proof of reserves publication.
- FEES
- Around 0.098 percent.
- ASSETS
- 700 plus
How the score breaks down
Each dimension is explained on the methodology page.
Where it is strong and where it is not
✓ Strengths
- Wide asset list
- Reimbursed users after both incidents
✗ Weaknesses
- Two separate hot wallet breaches
- No meaningful regulatory standing
- Limited transparency
Incident history
2019
Around 4.5 million dollars was taken in a hot wallet breach. Bitrue reimbursed affected users.
2023
Around 23 million dollars was drained from a hot wallet. Bitrue said it would cover affected users.
Our read
Two breaches in four years is a pattern rather than bad luck. Reimbursement each time is to its credit, and the pattern is still the point.
COMPARE
RISK WARNING
Crypto assets are highly volatile and largely unregulated. You can lose everything you put in.
Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation
to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.