BtcTurk Hit by $71M+ Crypto Heist — Hacker Racing to Convert Loot into ETH
In a brazen digital raid, leading Turkish exchange BtcTurk has fallen victim to a massive crypto hack totaling more than $71 million across two linked wallet breaches.
Blockchain data shows the primary hacker wallet still holds over $48M, with funds spread across #Ethereum , Avalanche, Arbitrum, Optimism, and several smaller altcoins. A second compromised wallet contains an additional $23M in assets.
The attacker wasted no time in aggressively swapping stolen tokens for ETH, moving through decentralized exchanges and MetaMask swaps at lightning speed. High-value transactions included multi-million-dollar trades in $FET , ANKR, and BEAM, alongside strategic approvals for rapid asset movement.
The motive is clear — consolidate into the most liquid and censorship-resistant asset available. As one analyst put it, “Even thieves know $ETH moves faster than banks.”
If the hacker decides to dump all that $ETH into the circulating supply, the impact could send shockwaves through the market. Early signs show traders are already reacting, with volatility picking up across ETH pairs — and we will be watching closely for the next big move.
For now, the crypto community braces for another reminder of how quickly fortunes — legitimate or stolen — can change hands in Web3.
