Security Breach at Taiwan-Based Crypto Exchange Results in Estimated Loss of Millions
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Hackers Exploit BigONE’s Systems, Steal Millions in Bitcoin and Ethereum
BigONE, a crypto exchange based in Taiwan, has reported a security breach involving its hot wallet infrastructure. The incident resulted in an estimated loss of $27 million worth of digital assets, including 120 BTC, 350 ETH, and over 8 million USDT across four networks.
According to SlowMist, a blockchain security platform, the production network was compromised, and the operating logic of account and risk control-related servers was modified. This allowed the attacker to withdraw funds from the hot wallet. BigONE confirmed the breach after its real-time monitoring system flagged unusual asset movements. The exchange attributes the incident to a third-party attack.
Despite the breach, BigONE assures that all private keys remain secure, ensuring that user assets will be fully refunded. The exchange is currently working with SlowMist to trace the attacker’s wallet addresses and monitor the movement of stolen funds.
In response to the incident, BigONE temporarily suspended its services before successfully completing a system upgrade. The platform has since restored deposit and trading services, allowing users to log in via their Web or App interface.
Some industry observers have linked this attack to similar incidents involving other exchanges. For example, last week’s hack on GMX, which resulted in the theft of $42 million worth of digital assets.
Source: cryptopotato.com
