BigONE hacked for $27 million, pledges full reimbursement

Seychelles-based crypto exchange BigONE has reported a security breach that resulted in a loss of approximately $27 million in the early hours of July 16.

According to the official announcement, the attack targeted the exchange’s hot wallet, resulting in losses of 120 BTC, 350 ETH, 1,800 SOL, and around 8.54 million USDT across four different networks. The exchange also lost funds in eight other cryptocurrencies, including DOGE, SHIB, and CELR.

Blockchain security firm SlowMist confirmed that this was a supply chain attack — a method where malicious code is injected into software systems to compromise production networks. SlowMist stated that the attacker altered the logic of servers responsible for account and risk management, enabling fund withdrawals. Notably, no private keys were leaked.

BigONE confirmed SlowMist’s findings, stating that the attack path had been identified and that the team is working with SlowMist to trace the hacker and follow the movement of stolen funds. The exchange has pledged to fully cover all user losses and has activated internal reserve funds to stabilize liquidity. Deposit and trading services are expected to resume within a few hours.

However, prominent on-chain investigator ZachXBT expressed no sympathy for BigONE, alleging that the exchange had previously facilitated significant volumes of illicit funds from pig butchering, romance, and investment scams.

Founded in China in 2017, BigONE reportedly handled $467.2 billion in trading volume over the past seven days, according to BitDegree data.

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