Turkish crypto exchange BtcTurk halted withdrawals on 14th August after a suspected $48M hack across Ethereum ($ETH ) , Avanlanche ($AVAX ) and other chains.
According to CoinTelegraph , #BtcTurk halted deposits and withdrawals, citing a technical issue with hot wallets, while trading and local currency withdrawals and deposits remained active.
Reports suggested that the platform has suffered a major loss of funds due to a hack. Cyber security firm Cyvers published on X, that, it had detected $48 millions worth of digital assets involved in unusual activity. Cyvers also added that the attacker had moved the assets to two addresses and begun swapping them.
BtcTurk said in a statement shared at 1:17 pm UTC. “During inspections conducted on Aug. 14, 2025, unusual activity was detected in our hot wallets. As a precautionary measure, cryptocurrency deposits and withdrawals have been temporarily suspended,”
BtcTurk assured the public that users assets, which are mostly held in Cold Wallets, are unaffected by the suspected attack.
BtcTurk has over five million users. It faced similar issue June 2024, with over $5 million funds stolen.
With recent Qubic claimed of gaining 51% control of Monero's hashrate and executing a six-block reorg on 14th August, there are various security concerns as crypto market approaches yearly highs.
