BtcTurk Halts Withdrawals After $48M Hot Wallet Breach

BtcTurk Freezes Crypto Withdrawals After $48 Million Hot Wallet Breach

Written by Aaron S.,

Editor-In-Chief

Last Updated: August 15, 2025

Key Takeaways

BtcTurk suspended crypto deposits and withdrawals after detecting suspicious activity in its hot wallets during routine checks;
Cyvers flagged $48 million in unusual transfers across several blockchains, but Lookonchain and CertiK gave differing loss estimates;
Stolen funds were linked to two Ethereum wallets and one Solana wallet, with some tokens already swapped into Ethereum.

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BtcTurk, a Turkish cryptocurrency exchange, has paused cryptocurrency withdrawals after detecting suspicious transactions in its hot wallets.

The exchange said trading and local currency operations are still available, but all crypto deposits and withdrawals are on hold.

Cyvers, a blockchain security company, reported on August 14 that about $48 million in digital assets was being moved in an unusual pattern. The transfers, which involved Ethereum ETH $4,041.67 , Avalanche AVAX $28.99 , Arbitrum ARB $0.4223 , Optimism OP $0.6705 , Polygon MATIC $0.2247 , Mantle, and Base networks, were sent to two wallets before being swapped.

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BtcTurk explained that the activity was found during routine checks. The exchange said:

During inspections conducted on August 14, 2025, unusual activity was detected in our hot wallets. As a precautionary measure, cryptocurrency deposits and withdrawals have been temporarily suspended.

Cyvers stated that most of its reserves are held in cold wallets, which are offline and not affected by the suspected breach. It also confirmed that law enforcement has been notified and that additional security steps are in progress.

Lookonchain reported that at least $23 million was taken, while CertiK put the number at no less than $50 million.

Lookonchain added that the attacker has started converting part of the stolen tokens into Ethereum. CertiK identified three wallets linked to the stolen funds: two Ethereum addresses, 0x7D91D1 and 0xA041Fe, and one Solana address, 9sjdD9Xg.

The crypto exchange Coinbase recently confirmed losing around $300,000 in tokens. What happened? Read the full story.