Crypto Exchange BigONE Confirms $27M Hack, Vows Full User Compensation
2025-07-16 08:33:31
Main Idea
Crypto exchange BigONE confirmed a $27 million hack due to a hot wallet exploit and has vowed to fully compensate affected users while working with security firm SlowMist to track the stolen funds.
Key Points
1. BigONE detected abnormal movements in its hot wallet, leading to a $27 million breach.
2. The exchange assured users that all assets are safe and promised full compensation for losses.
3. BigONE is collaborating with blockchain security firm SlowMist to track the stolen funds across Tron, Solana, and BNB Chain.
4. Trading and deposits will resume soon, while withdrawals will be enabled after additional security upgrades.
5. The incident adds to the $2.1 billion in crypto exploit losses recorded in 2025.
Description
Crypto exchange BigONE has confirmed a $27 million breach stemming from a hot wallet exploit on July 16 and states that all user funds will be fully reimbursed. In an official statement, the exchange said it detected “abnormal movements” tied to a third-party attack and has since identified and contained the vector. All private keys remain secure, and no additional losses are expected. BigONE is working with blockchain security firm SlowMist to track the stolen assets, with fund tracing already ...
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