BigONE Gets Hacked, Loses a Casual $27M

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Well, folks, it’s happened again 🤦‍♀️. Crypto exchange BigONE just got hacked to the tune of $27 million. But don’t worry, they’re on it! 💪 They’ve promised to fully reimburse users and are activating their internal reserves for recovery.

The Hot Wallet Breach: A Classic Move

BigONE, a Seychelles-based crypto exchange (because who doesn’t love a good offshore account? 🏖️), revealed that they’d suffered a major security breach. It turns out that a third-party supply chain attack targeted their hot wallet infrastructure. Who knew that was a thing? 🤔

In an official statement, the exchange said,

“In the early hours of July 16, BigONE detected abnormal movements involving a portion of the platform’s assets. Upon investigation, it was confirmed to be the result of a third-party attack targeting our hot wallet.”

SlowMist: The Heroes We Need

The hack was first reported by blockchain security firm SlowMist (basically the crypto version of the A-Team 🚀). They indicated that the attacker had gained access to the exchange’s production network. Yikes! 😱

SlowMist stated,

“The production network was compromised, and the operating logic of account and risk control-related servers was modified, enabling the attacker to withdraw funds.”

But don’t worry, private keys were not exposed during the attack. Silver linings, am I right? 🌟

The Damage: A Multicoin Mess

BigONE, which supports trading in over 180 cryptocurrencies (because who needs that many options? 🤯), disclosed that the stolen funds included 120 BTC, 350 ETH, 1,800 SOL, and roughly 8.54 million USDT across four different networks. Other affected tokens include Dogecoin (DOGE), Shiba Inu (SHIB), and CELR, because who doesn’t love a good meme coin? 🐶

Don’t Worry, You’re Covered

To mitigate the impact on users, BigONE announced it would cover all losses from the attack. The platform stated,

“We will fully cover all losses incurred from this incident to ensure that user assets are not affected in any material way.”

The company has activated its internal security reserve, comprising BTC, ETH, USDT, SOL, and XIN, to replenish user balances. Additionally, BigONE is securing external liquidity through borrowing to restore affected token pools, both mainstream and otherwise. Because who doesn’t love a good loan? 🤑

Deposit and trading services are expected to resume shortly, with withdrawal capabilities returning after a final round of security enhancements. So, users, don’t worry! Your crypto is safe… for now 😅.

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2025-07-16 19:11