BigONE Exchange Hacked, Loss of $27 Million, Promises Full Compensation

The Seychelles-based cryptocurrency exchange BigONE announced that it was subjected to a security attack in the early hours of July 16, resulting in a loss of approximately $27 million.

According to the official statement, the hacker targeted BigONE's hot wallet, leading to the platform losing 120 bitcoins, 350 ethers, 1,800 Solana, and about 8.54 million USDT, distributed across four different blockchain networks. In addition, the platform also lost eight other cryptocurrencies, including DOGE, SHIB, and CELR.

Blockchain security company SlowMist confirmed that this was a supply chain attack, where the hacker injected malicious code into the software system to intrude on the production network. SlowMist stated that the attacker manipulated the server operation processes controlling accounts and risk management logic to achieve fund transfer, but the private keys were not leaked.

BigONE confirmed SlowMist's investigation results, stating that it has identified the attack path and is working with SlowMist to track the hacker and the flow of stolen funds. The exchange promised to fully compensate all user losses and has initiated an internal security reserve fund to stabilize liquidity. Deposit and trading services are expected to resume within a few hours.

However, well-known on-chain investigator ZachXBT expressed disdain for BigONE, stating that the exchange has handled a large amount of illegal funds from “pig butchering” schemes, online romance, and investment scams.

BigONE was established in 2017, originating in China. According to BitDegree data, the exchange's trading volume reached as high as $467.2 billion in the past seven days.

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