BigONE, a global cryptocurrency exchange, has confirmed a security breach that resulted in the loss of roughly $27 million in digital assets. According to the company, the attack targeted one of its hot wallets and assured users that all private keys remain secure.
⚠️ Security Incident: unauthorized access to our hot wallet
— BigONE (@BigONEexchange) July 16, 2025
All user assets are safe. BigONE will fully bear all the losses. Trading and deposits will resume soon; withdrawals after added security upgrades.
🔗 https://t.co/CWCrng2KK8
BigONE said the attack path had been identified and contained, and that no further losses are expected. Trading and deposit services are being restored, while withdrawals will remain suspended until the company completes additional security upgrades.
Thankfully to trace the stolen funds, the company has partnered with blockchain security firm SlowMist. Besides, the BigONE has also activated its internal security reserves, including assets like BTC, ETH, USDT, SOL, and XIN, to cover the stolen funds and compensate affected users.
The assets lost in the breach include:
- 120 BTC
- 350 ETH
- Over 8.5 million USDT across TRC20, ERC20, BSC, and SOL chains
- More than 9.6 billion SHIB tokens
- 1,800 SOL
- 538,000 DOGE
- And some other tokens, including CELR, UNI, and LEO
Note: BigONE said it is securing external liquidity through borrowing mechanisms to restore its platform wallet fully and added that no user funds will be affected.
However, it’s important to keep in mind that this is not the first incident of crypto breach in recent times. According to Chainalysis, cybercriminals have already stolen over $2.17 billion worth of crypto in the first half of the year. This is more than the total amount stolen in all of 2024.
Chainalysis also warned that hackers are increasingly targeting individual wallet holders, using more aggressive tactics like “wrench attacks,” where victims are physically threatened to give up their private keys.
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