$48M In Cross-chain Moves Set Off Alarms At Turkish Exchange BtcTurk, What You Need To Know

Key Points

1. Approximately $48 million in unusual transfers were flagged across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon networks linked to BtcTurk.

2. The attack appears to be a hot-wallet compromise, with the hacker actively swapping stolen tokens for ETH to obscure the trail.

3. BtcTurk confirmed the incident and paused crypto deposits and withdrawals, though trading and Turkish Lira operations continue.

4. On-chain investigators like Lookonchain and CyversAlerts are tracking the stolen funds, which are being consolidated into ETH for liquidity and laundering purposes.

5. Users are advised to rely only on official BtcTurk announcements and avoid unverified links or third-party instructions regarding account security.