After zachxbt's investigation, BitBNS admitted that they had hidden the hack from customers. "Law enforcement advised us that the users should be educated about the incident only after the investigation is completed or reaches a dead end," said BitBNS CEO Guarav Dahake, who also said that some funds were ultimately recovered thanks to law enforcement and cooperation from other exchanges.
BitBNS discloses that they were hacked in February 2022, hid it as "system maintenance"
An investigation by crypto sleuth zachxbt uncovered that the Indian crypto exchange BitBNS had been hacked on February 1, 2022, but hid it from users. After experiencing a $7.5 million theft, the exchange tweeted "system maintenance in progress", suggesting they were having problems with Amazon Web Services.