Crypto exchange BigONE has fallen victim to a supply chain attack, leading to significant financial losses. During the attack, the perpetrator was able to withdraw funds from the company's hot wallet.
Circumstances of the Attack
On July 16, BigONE suffered a third-party attack targeting its hot wallet, resulting in losses amounting to $27 million. The company is collaborating with security firm SlowMist to investigate the incident.
Company's Response
In response to the attack, BigONE has activated internal security reserves to protect user funds from further exploits. The company claims that all private keys remain secure and that the vulnerability has been identified and contained.
Asset Protection Strategy
BigONE stated, 'We are actively securing external liquidity through borrowing mechanisms to restore the platform wallet as soon as possible.' The company also promised to resume their services within a few hours after enhancing security.
The attack on BigONE highlights the importance of security in the cryptocurrency sector. The exchange continues to take measures to protect user assets and restore services.
