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BigONE Hacked: $27M Stolen in Devastating Hot Wallet Attack
In a shocking turn of events, BigONE has announced that it has been hacked, resulting in the theft of a staggering $27 million from its hot wallet reserves. The incident marks the largest direct hot wallet attack since KuCoin’s $275 million hack in 2020.
As reported by reliable sources, the attacker managed to breach BigONE’s production servers, bypassing crucial risk checks and gaining unauthorized access. This devastating exploit led to the draining of significant amounts from various cryptocurrency assets, including a total of 120 Bitcoin, over 350 Ether, and millions of Tether (USDT), alongside other tokens like SHIB and CELR.
Fortunately, BigONE’s private keys have remained untouched, ensuring that user funds remain secure. The exchange has pledged to fully compensate the affected users from its internal reserves. To cover the losses, it is seeking additional liquidity through external lending channels.
Industry experts attribute this breach to weaknesses in the exchange’s Continuous Integration and Deployment pipelines as well as inadequate network segmentation between servers. It seems that hackers successfully deployed malicious binaries, allowing them to gain access to BigONE’s system, before consolidating stolen assets into fresh wallets for laundering purposes.
While hot wallet attacks have become less common due to increased security measures at centralized exchanges, this incident serves as a stark reminder of the importance of robust security layers and automated response systems in today’s ever-evolving threat landscape.
In related news, Sushiswap vs Uniswap Metamask vs Trust Wallet
Source: crypto-economy.com
