The BigONE cryptocurrency exchange has reported a serious cyber attack resulting in the theft of over $27 million. The incident occurred on July 16 and targeted the hot wallet infrastructure.
Breach and Hot Wallet Attack
BigONE confirmed that the breach targeted their hot wallet systems. The attacker gained access by modifying production environment settings, allowing them to bypass risk control mechanisms and make unauthorized withdrawals. Private keys were reportedly not exposed during the incident. BigONE's team detected abnormal fund flows, traced the breach, and managed to prevent further losses.
Transfer of Stolen Assets
According to reports, the hacker exchanged the stolen assets for 120 BTC, 23.316 million TRX, 1,272 ETH, and 2,625 SOL. Other stolen tokens include 20,730 XIN, 4.3 million SNT, 15.7 million CELR, and 9.7 billion SHIB. BigONE noted that these numbers are still under review.
Criticism and Security Measures
Following the incident, the hacker quickly swapped assets across multiple blockchains. Confirmed hacker wallets have been identified, leading to criticism of BigONE. Critics argue that the platform previously handled volumes related to fraudulent activities. In response, BigONE has suspended withdrawals and is implementing new security protocols. Deposits and trading are expected to resume shortly.
User account balances will not be affected, as BigONE has activated internal reserves. The exchange will provide updates on the progress of the investigations.
