Cryptocurrency exchange BigONE suffered a massive hack on July 16, 2025, losing $27 million due to an attack on its hot wallet. Hackers exploited a vulnerability in the supply chain, compromising internal servers and altering risk management logic, which allowed them to withdraw assets without access to private keys. Among the stolen items were 120 $BTC , 350 $ETH , 1,800 $SOL , 8.54 million USDT, and significant amounts of SHIB, DOGE, and other tokens. The exchange quickly detected unusual movements and blocked further losses, cooperating with SlowMist to track the stolen funds.
BigONE assured that the private keys remained untouched, and users will not suffer — all losses will be compensated from reserves and external loans. Deposits and trading will resume shortly, but withdrawals have been delayed due to enhanced security. The incident sparked discussions about the exchange's involvement in questionable operations, such as 'pig butchering' schemes, but there is no evidence so far.
This hack added $27 million to over $2.47 billion in losses from hacking attacks in 2025, highlighting the vulnerability of centralized platforms.
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