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.
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