Oh no, they did it again! Cryptocurrency exchange BigONE suffers a $27 million loss from a third-party attack on its hot wallet on July 16.
//x.com/SlowMist_Team/status/1945346830222680330″>alert
warning of a compromise to the exchange’s production system, noting that this, combined with the modification of operating logic on account and risk control-related servers, enabled the attacker to steal funds.
In an update immediately after the attack, BigONE said it swiftly identified and contained the attack path. The update also assured users that all private keys remain secure and no further losses will occur. The exchange revealed that it is actively collaborating with SlowMist to trace the hacker’s addresses and monitor all fund movements.
The exchange also reassured users that all those affected by the attack will be compensated in full.
“BigONE will fully cover all losses incurred from this incident. User assets will not be affected in any material way. To ensure asset pool stability, we have activated our internal security reserves, which include BTC, ETH, USDT, SOL, and XIN, to replenish user funds,” the exchange stated.
However, with respect to other mainstream and non-mainstream tokens affected, BigONE said it is seeking external liquidity through borrowing mechanisms to restore the platform wallet as quickly as possible.
System recovery efforts were currently underway, with deposit and trading services expected to resume within a few hours. Withdrawal functions would be restored following additional security reinforcement, BigONE stated in its update.
Meanwhile, in a later update, BigONE revealed that a system upgrade had been successfully completed and that deposit and trading services were fully restored. The withdrawal and OTC function, however, will be “re-enabled once the system is confirmed to be running smoothly.”
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2025-07-17 00:27