The BigONE exchange has faced a significant security threat that resulted in a large sum of assets being stolen. This incident raises questions about the security of centralized exchanges in the cryptocurrency space.
Details of the BigONE Attack
SlowMist has confirmed that on July 16, 2025, a supply chain attack occurred on the BigONE exchange. The attacker manipulated the operational logic of account-related servers, enabling unauthorized fund withdrawals. The attack drained approximately $27 million from BigONE, impacting BTC, ETH, USDT, SOL, and XIN assets across Ethereum, Solana, TRON, and Bitcoin blockchains. As reported by SlowMist:
> "The production network was compromised, and the operating logic of account and risk control related servers was modified, enabling the attacker to withdraw funds."
User Asset Security
BigONE confirmed on social media that user assets are safe and all losses will be covered. The exchange plans to resume withdrawals following security upgrades. Despite this, the incident may impact user trust in centralized exchanges and temporarily reduce BigONE's trading volume.
Implications for the Crypto Market
The incident highlights the need for improved security protocols in the crypto industry. Previous attacks on similar exchanges resulted in short-term trading disruptions, but full asset recovery mitigated broader token impacts. Experts warning of the necessity for strengthening exchange infrastructure to prevent future breaches.
The event with BigONE raises concerns about the need for stricter regulatory oversight and enhanced security in the crypto industry. The cryptocurrency market may face serious consequences if similar incidents continue.