BigONE Faces Possible $27 Million Loss in Hot Wallet Attack Involving Bitcoin and Other Cryptocurrencies
2025-07-16 06:40:42
Main Idea
BigONE exchange suffered a $27 million loss due to a hot wallet hack, affecting major cryptocurrencies, and has partnered with SlowMist for recovery while pledging full user compensation.
Key Points
1. BigONE lost approximately $27 million in a hot wallet hack involving cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB).
2. The exchange has collaborated with cybersecurity firm SlowMist to trace and recover the stolen funds and has contained the breach to prevent further unauthorized withdrawals.
3. BigONE has committed to fully compensating affected users and enhancing its security measures.
4. The hack is part of a broader trend of cryptocurrency exchange breaches in 2025, including incidents at Bybit ($1.5 billion loss), Phemex ($85 million), Cetus Protocol ($225 million), Infini ($49 million), and Moby ($2.5 million).
5. The incident underscores the need for robust security frameworks and proactive risk management in the crypto exchange ecosystem.
Description
BigONE cryptocurrency exchange has suffered a significant security breach, resulting in a $27 million loss due to a third-party attack on its hot wallet. The incident affected multiple major cryptocurrencies,
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