$27M Hack Hits BigONE Exchange, Hacker Swaps Assets Across Chains

Key Points

1. Hackers drained over $27 million from BigONE by exploiting its hot wallets and executing cross-chain swaps across four major blockchains.

2. The attackers fragmented the stolen funds using bridges and decentralized exchanges (DEXs), with some converted to privacy coins to obscure the trail.

3. BigONE responded by suspending deposits and promising full reimbursement for user losses, while also initiating security upgrades.

4. Regulatory agencies, including Interpol, the SEC, and FinCEN, have requested logs and incident reports from BigONE to investigate the breach.

5. The incident highlights ongoing security vulnerabilities in crypto exchanges, particularly concerning hot wallets and the use of privacy tools by hackers.