SlowMist flagged suspicious activities in BigOne and later in its X post dated July, the Singaporean crypto exchange has been hacked due to a supply chain attack, and the losses have exceeded $27 million in digital assets.
SlowMist TI AlertThe exchange @BigONEexchange was exploited due to a supply chain attack and loss exceeds $27 million. The production network was compromised, and the operating logic of account and risk control related servers was modified, enabling the attacker to withdraw… pic.twitter.com/GkxlNIUs6A
— SlowMist (@SlowMist_Team) July 16, 2025
The further notes that, “ The production network was compromised, and the operating logic of account and risk control-related servers was modified, enabling the attacker to withdraw funds. Notably, the private keys were not leaked.”
A similar X post over the breach in BigOne was written by Certik, which notes that, “ We have seen multiple large token outflows from ‘0xd4dcd2459bb78d7a645aa7e196857d421b10d93f’ that are related to the latest BigONE security incident.”
#CertiKInsight We have seen multiple large token outflows from 0xd4dcd2459bb78d7a645aa7e196857d421b10d93f that are related to the latest BigONE security incident.The exploiter now holds ~$4M in ETH and multiple other tokens (may not be liquidatable ) at… pic.twitter.com/qWM0rFfNbB
— CertiK Alert (@CertiKAlert) July 16, 2025
Adding, “ The exploiter now holds ~$4M in ETH and multiple other tokens (may not be liquidatable ) at 0x0a360bd648eb86613961a2aa41dc1610c5305f4f.”
Following the incident, BigOne Exchange confirmed that it has flagged unauthorized access to its hot wallet; yet it informed the community that all the users’ assets are safe and BigONE will bear all losses.
The exchange is working closely with cybersecurity firms and concerned agencies to neutralise the effects of this devastating attack.
Bad actors quickly transfer the funds to a new location
Some other data notes that in the hack, the attackers stole different crypto coins and tokens, including $14.15 million in Bitcoin, with a significant amount of Tron and Ethereum.
Soon after wiping out millions of dollars from BigONE, the hackers moved the stolen funds to different wallets to avoid getting tracked, also some of the cryptos were converted into wrapped Ethereum.
This incident also raised concerns because some people pointed out that the exchange may have been involved in processing shady payments in the past.
A quick update on the crypto market
According to data from CoinMarketCap, the cryptocurrency market capitalization has surged around 1.50% in the past 24 hours, reaching $3.76 trillion, and the trading volume is $181.71 billion.
At the same the crypto fear and greed index was at 68, indicating greed in the market, and Bitcoin is at $119,050 with an increase of 1.75% intraday.
The intraday gainers list has been topped by SPX6900, followed by Pump token, Ethereum Name Service, Bonk, Pudgy Penguins, Artificial Superintelligence Alliance, Dogwifhat, and Curve DAO token.
However, the weekly gainers list has been topped by Pudgy Penguins, which grew 133% followed by Steller, Algorand, Bonk, Story, Curve DAO token, Hedra, Sei, Sui, IOTA, and Ethereum Name Service.
