$27M Vanishes: BigONE Hit by Major Crypto Wallet Breach

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$27 Million Vanishes: BigONE Hit by Major Crypto Wallet Breach

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 16, 2025

Key Takeaways

BigONE lost $27 million in a hot wallet attack after a third party gained access to its system on July 16;
Stolen funds included BTC, ETH, USDT, and other tokens, while security firms are tracking the attacker’s wallets;
The exchange is using reserves to cover all losses and confirmed that user funds and trading remain unaffected.

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$27 Million Vanishes: BigONE Hit by Major Crypto Wallet Breach

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BigONE $503.82M , a cryptocurrency exchange, has confirmed it was targeted in an external attack that led to $27 million being taken from one of its hot wallets.

The incident was discovered on July 16 after its system flagged unusual fund transfers.

After looking into the issue, BigONE said the cause was a third party gaining access to its online wallet system.

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BigONE stated that while the breach allowed access to certain wallet functions, the platform’s private keys were not exposed, and the path used to carry out the attack has been blocked.

The exchange has drawn on its emergency reserve assets, which include Bitcoin, Ethereum, USDT, Solana, and Mixin. These funds are being used to make sure affected users do not lose money.

According to SlowMist, the stolen assets included 120 BTC, 350 ETH, several million USDT from multiple chains, and other tokens like CELR, SNT, and SHIB. The firm is currently tracking the wallet addresses used by the attacker to see where the stolen crypto goes.

A separate update from Cyvers explained how the attacker managed to gain access to BigONE’s production system and modify the servers' functionality. This allowed them to bypass safety measures and withdraw funds without permission.

BigONE said all users will be reimbursed in full. It also stated that normal trading and withdrawals can continue.

Recently, Arcadia Finance, a decentralized finance (DeFi) platform, suffered a security breach that resulted in the loss of around $3.5 million in crypto assets. How? Read the full story.