CryptoHacks

BigONE, a popular cryptocurrency exchange, has become the latest victim of a sophisticated cyberattack. More than $27 million worth of user funds were stolen across multiple cryptocurrencies, including Bitcoin, Ethereum, USDT, and the meme token Shiba Inu. The attacker gained unauthorized access to the platform’s hot wallets and executed fraudulent withdrawals spanning a wide range of assets.

🔓 Security Breach Uncovered: Internal Systems Were Manipulated
BigONE confirmed that its production network had been compromised, allowing the hacker to alter the logic of servers responsible for risk control and account management. This manipulation enabled unauthorized withdrawals — even without any private keys being exposed.
On-chain data revealed the following stolen funds:
🔹 121 BTC

🔹 350 ETH

🔹 9.69 billion SHIB

🔹 538,000 DOGE

🔹 Additional assets such as USDT, UNI, and others
The incident took place during the early hours of July 16 and was detected after the platform noticed unusual movements of funds. In response, BigONE temporarily suspended all deposits and withdrawals to contain the damage.

🛡️ No Private Keys Leaked, but Losses Still Massive
While private keys remain secure, the internal system breach allowed the attacker to drain funds from hot wallets. BigONE emphasized that all user losses will be fully compensated, and reassured users that the threat has been neutralized.

🔍 Investigation Underway: Blockchain Security Firm SlowMist Steps In
BigONE is now working with the well-known blockchain security firm SlowMist, which specializes in tracking illicit transactions. Their role is to trace hacker wallet addresses and monitor the flow of stolen crypto.
Historical trends show that attackers often go quiet after an attack, only to resurface months later — just like the February hack of Coinbase, where the attacker waited two months before moving 4,800 ETH.

⚙️ Platform Recovery in Progress
In its latest update, BigONE announced that deposit and trading functions will resume within a few hours. Withdrawals are expected to follow shortly after the implementation of enhanced security measures.
Despite the growing maturity of the crypto industry, top exchanges remain vulnerable to highly targeted attacks. BigONE now joins the list of hacked platforms, including Bybit, Coinbase, and Iran’s Nobitex, which lost $100 million last month.

#cryptohacks , #CryptoSecurity , #CryptoScamAlert , #BTC , #ETH

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On Monday, July 15, decentralized platform Arcadia Finance suffered a serious cyberattack resulting in the loss of approximately $2.5 million. The hackers targeted the platform’s rebalancer on the Base network, a crucial component for liquidity management, siphoning off hundreds of ETH tokens.
Following the attack, the Arcadia team immediately took to X (formerly Twitter) to warn users and urge them to revoke asset manager permissions and deactivate any active rebalancers to prevent further losses.

What happened and how did the hack unfold?
According to analysts from blockchain security firm PeckShield, around 840 ETH (worth approximately $2.5 million at current prices) was stolen. The attackers bridged the stolen assets from Base to Ethereum and used the well-known crypto mixer Tornado Cash to obscure their tracks.
This isn’t the first time Arcadia has suffered a breach — back in July 2023, the platform lost $455,000 due to a code vulnerability exploited by hackers.

Who is behind Arcadia and how are they responding?
Arcadia Finance is backed by Coinbase Ventures and recently joined the Circle Alliance. According to the platform’s website, USDC accounts for over one-third of Arcadia’s total value locked (TVL).
All smart contracts on the platform have been suspended indefinitely, with no timeline given for resumption. In a statement, Arcadia said it is cooperating with security experts, law enforcement, and the wider crypto community, emphasizing that “recovering funds for Arcadia protocol users remains our top priority.”

2025: A Record-Breaking Year for Crypto Hacks
The Arcadia hack adds to a growing list of crypto breaches in 2025, with more than $2.1 billion stolen across over 75 incidents — nearly matching the total annual losses seen in 2024.
While Arcadia’s losses may seem modest, the attack highlights persistent vulnerabilities in the DeFi space, especially involving bridges and smart contracts.
Reports suggest that over 80% of stolen funds this year came from infrastructure exploits, where hackers accessed deeper blockchain systems, rather than exploiting individual contract bugs.

Biggest 2025 Attack: $1.5 Billion Stolen from Bybit
The most devastating hack so far this year was February’s attack on Bybit, where $1.5 billion was drained. The breach is attributed to the North Korea-linked Lazarus Group, and it has nearly doubled the average hack size compared to 2024.
Other notable hacks include:
🔹 Cetus Protocol – $225.6 million lost

🔹 Nobitex (Iran) – $89.1 million stolen, linked to Israeli group Gonjeshke Darande

#cryptohacks , #CryptoScamAlert , #TornadoCash , #defi , #CyberSecurity

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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

In a joint statement, the governments of the United States, Japan, and South Korea have highlighted the growing risk posed by North Korean cyberattacks on the global blockchain and cryptocurrency sectors. The warning particularly focuses on the potential threats associated with hiring IT workers from North Korea.
The Threat of North Korean Hackers to the Blockchain Industry
The three nations emphasized in their January 14 statement that North Korean hacking groups, such as the infamous Lazarus Group, are increasingly targeting crypto exchanges and investors. These groups employ sophisticated tactics, including social engineering, and spread malware like TraderTraitor and AppleJeus.
A Call for Caution in IT Recruitment
Government authorities urged companies operating in the web3 and blockchain sectors to thoroughly vet new hires to avoid employing IT professionals from North Korea. Research indicates that such workers often pose as remote employees or investors. The report also mentioned initiatives to foster collaboration between the private and public sectors, such as Crypto-ISAC in the United States, as well as similar efforts in Japan and South Korea.
North Korean Cyberattacks in 2024
In 2024, North Korean cyber groups were linked to several high-profile attacks:
A hack on Japan’s DMM Bitcoin exchange resulted in losses of $308 million.An attack on South Korea’s Upbit platform led to the theft of $50 million.
These incidents underscore the severity of the threat that North Korean activities pose to the global financial system.
Fraudulent Practices by North Korean Hackers
At the Cyberwarcon conference in November 2024, researchers revealed that North Korean hackers often disguise themselves as:
Remote IT workers employed by major tech companies,Recruiters or venture capital investors.
Two specific hacking groups, Sapphire Sleet and Ruby Sleet, allegedly stole $10 million in just six months using these methods.
Collaboration Is Key to Protection
The governments of the USA, Japan, and South Korea have called on companies and individuals to remain vigilant and work together to create effective defense mechanisms. Thorough employee screening and adherence to security recommendations could help mitigate the risks of cyberattacks and safeguard the global financial ecosystem.

#CyberSecurity , #CryptoNewss , #cryptohacks , #cyberattacks , #HackerNews

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“