Crypto exchange BigONE has confirmed a $27 million loss following a sophisticated exploit targeting its hot wallets.
The breach, detected early on July 16, led to unauthorized withdrawals across multiple networks.
According to the exchange, the attack resulted in the loss of 120 BTC, 350 ETH, 1,800 SOL, and over 8.5 million USDT, along with funds in several other tokens, including DOGE and SHIB. Blockchain security firm SlowMist identified the incident as a supply chain attack in which hackers compromised production systems and altered internal server logic, enabling fund withdrawals without exposing private keys.
BigONE has assured users that wallet keys remain secure and that the attack path has been isolated. The company is working with SlowMist to trace the stolen funds and has pledged to cover all losses using internal reserves. Trading and deposit services are expected to resume shortly.
Meanwhile, blockchain investigator ZachXBT offered no sympathy, alleging that BigONE has facilitated illicit transactions linked to online scams.
Despite limited visibility, BigONE processed over $467 billion in trading volume last week, according to BitDegree. Founded in China in 2017, the exchange remains a significant player in the crypto space.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/this-crypto-exchange-loses-27m-in-coordinated-supply-chain-attack/