coindesk.com
16 July 2025 08:22, UTC
Crypto exchange BigONE has confirmed a $27 million breach stemming from a hot wallet exploit on July 16 and states that all user funds will be fully reimbursed.
In an official statement, the exchange said it detected “abnormal movements” tied to a third-party attack and has since identified and contained the vector. All private keys remain secure, and no additional losses are expected.
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⚠️ Security Incident: unauthorized access to our hot wallet
— BigONE (@BigONEexchange) July 16, 2025
All user assets are safe. BigONE will fully bear all the losses. Trading and deposits will resume soon; withdrawals after added security upgrades.
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BigONE is working with blockchain security firm SlowMist to track the stolen assets, with fund tracing already underway across Bitcoin, ethereum, Tron, Solana, and BNB Chain, per a release.
The stolen tokens span across major and minor assets, including:
BigONE said user balances are safe, and all losses will be covered in full using a combination of internal reserves ($BTC, $ETH, $SOL, $USDT, XIN) and external borrowing to restore liquidity for niche tokens.
Deposits and trading are expected to resume within hours, but withdrawals will be delayed until further security reinforcements are complete.
“We sincerely apologize for the impact this incident may have caused,” the team wrote. “All investigation progress and handling results will be communicated with full transparency.”
The incident marks yet another major exchange hack in 2025, pushing total crypto exploit losses beyond $2.1 billion for the year.
Read more: Crypto Investors Lost $2.5B to Hacks and Scams in the First Half of 2025: Certik
