Crypto Heist: $27 Million Stolen from BigONE Exchange

Unmasking the Digital Heist

BigONE, a cryptocurrency exchange, recently revealed that hackers made off with $27 million value of digital assets in a recent cyberattack. Fortunately, the breach didn’t compromise private keys or user data, and the exchange has promised to reimburse affected customers using their reserve funds.

Spotting the Breach

According to BigONE’s statement, the primary signs of trouble appeared within the early hours of July 16 after they noticed unusual activity affecting a few of their assets. An investigation confirmed that the incident stemmed from a third-party attack on their hot wallet.

Thankfully, BigONE quickly got a handle on the situation. They teamed up with security experts at SlowMist to pinpoint the attack method, shut it down, and keep tabs on the stolen funds as they moved through the blockchain.

“Rest assured, we’ve got this under control,” BigONE stated. “We’re covering all losses from this breach, and user assets are safe.”

Getting Back on Track

Just just a few hours after the attack, BigONE’s administrators were in a position to restore deposit and trading services. Withdrawal and over-the-counter functions are expected to come back back online soon.

Details concerning the hacking method are still under wraps, but SlowMist has indicated it was a supply-chain attack. Meanwhile, blockchain observatory Lookochain reports that the hackers have laundered the stolen funds, converting them into 120 Bitcoin, 1272 Ether, 2,625 Solana, and 23.3 million Tron.

Blockchain crime investigator ZachXBT weighed in, suggesting that this incident might function a wake-up call, shedding light on BigONE’s involvement in processing proceeds from scams. He hinted that such breaches may lead to a “natural cleanse” within the crypto world.

A Record Year for Crypto Theft

Chainalysis just published its mid-year crypto crime report for 2025, and it is a doozy. With over $2.17 billion stolen thus far, this yr has already surpassed the overall for 2024. ByBit’s $1.5 billion hack significantly contributed to this staggering figure, putting North Korean hackers within the highlight.

Interestingly, Chainalysis notes a shift in focus amongst hackers, who are actually targeting personal wallets greater than ever, accounting for 23.35% of stolen funds this yr. The report also mentions a worrying rise in physical attacks linked to crypto-theft, coinciding with Bitcoin’s value surge.

Cryptocurrency losses per yr

Source: Chainalysis

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Image Credit: www.bleepingcomputer.com