Hacker Steals $27 Million in BigONE Exchange Crypto Breach

Cryptocurrency exchange BigONE has disclosed that hackers stole various digital assets valued at $27 million in an attack yesterday. The platform announced that private keys and user data remain unaffected by the intrusion, and any customers that incurred losses will be reimbursed from available reserves.

In a statement released early on July 16, BigONE detected abnormal movements involving a portion of the platform's assets, which led to the confirmation of a third-party attack targeting its hot wallet. The company assured users that the attack method was identified and fully contained, and it has partnered with security firm SlowMist to track the stolen funds and monitor their movement across blockchains.

BigONE stated that "User assets will not be affected in any material way" and that the exchange would fully cover all losses incurred from this incident. A few hours later, BigONE administrators announced that deposit and trading services had been fully restored following the cyberattack, with withdrawal and OTC functions expected to be re-enabled shortly.

However, no information has been shared about how exactly the threat actors hacked the exchange and stole the funds, but SlowMist said that the exchange was the victim of a supply-chain attack. Meanwhile, blockchain observatory Lookochain reports that the hackers have already engaged in money laundering and exchanged the stolen assets for 120 Bitcoin, 1272 Ether, 2,625 Solana, and 23.3 million Tron.

Blockchain crime investigator ZachXBT highlighted BigONE's role in processing significant volumes of proceeds coming from romance baiting and investment scams, suggesting that such hacks may help bring "a natural cleanse" in the space. Earlier today, Chainalysis published its 2025 mid-year crypto crime report, reporting that over $2.17 billion has been stolen so far, already more than all of 2024.

ByBit's $1.5B hack played a key role in achieving this record-breaking figure, giving North Korean threat actors the leading position so far this year. Chainalysis also highlighted a notable trend where hackers now focus more on personal wallets, which account for 23.35% of all stolen funds this year.

The blockchain intelligence firm also presented cases of physical violence for crypto-theft, which are also on the rise, correlating with Bitcoin price increases. It is essential to note that emerging threats in real time - before they impact your business. Learning how cloud detection and response (CDR) gives security teams the edge they need in this practical, no-nonsense guide.

Additionally, numerous high-profile hacks have been reported recently, including a hacker stealing $223 million in Cetus Protocol cryptocurrency, dozens of fake wallet add-ons flooding the Firefox store to drain crypto, and US recovering $225 million of crypto stolen in investment scams. BitoPro exchange links Lazarus hackers to $11 million crypto heist, while Pro-Israel hackers hit Iran's Nobitex exchange, burning $90M in crypto.