On March 1, ZachXBT, an on-chain data analyst, tweeted: "Indian cryptocurrency exchange Bitbns concealed a $7.5 million hack from its users on February 1, 2022, and informed users that it was system maintenance." According to CryptoSlate, Bitbns CEO Gaurav Dahake admitted in an AMA session that the exchange had indeed been hacked. But Dahake claims the system was taken offline to analyze anomalies, not to hide hacking. He also said that exchanges improve their security systems after such incidents, and that Bitbns has been operating "seamlessly" since the attack. Still, Dahake would not confirm the amount of assets stolen from the exchange in the attack.