Cybercriminals Steal $27 Million in Cryptocurrency from Exchange

Fri 18th Jul, 2025

A significant cyberattack has targeted the cryptocurrency exchange BigONE, resulting in the theft of digital currencies valued at approximately $27 million. The theft involved various cryptocurrencies, including Bitcoin and Ethereum. Fortunately, the exchange has stated that no private keys or user data were compromised during the incident. Furthermore, BigONE has committed to covering the losses incurred by its users.

According to market analysts, the number of cryptocurrency thefts in 2025 has already surpassed the total losses recorded in the previous year. This surge can be attributed to one of the largest heists in cryptocurrency history, in which Bybit suffered a loss of $1.5 billion. Preliminary investigations into the Bybit incident revealed that hackers manipulated the wallet system used by the company, known as 'Safe{Wallet}. The FBI has linked this breach to a North Korean-associated group identified as 'TraderTraitor.'

In a recent report from Chainalysis, it was revealed that cryptocurrency thefts in 2025 have totaled over $2.17 billion, exceeding the total for all of 2024, which was below $2 billion. Analysts project that if current trends continue, the total stolen cryptocurrencies for 2025 could exceed $4 billion.

The cyberattack on BigONE, while substantial, is relatively minor compared to other recent incidents and was not included in the Chainalysis report, as it occurred just this week. On Wednesday, the exchange temporarily halted deposits and trading due to the detection of unusual activity within some of the digital assets held on its platform. To investigate the matter, BigONE is collaborating with the cybersecurity firm SlowMist, which had previously provided assistance during the Bybit incident.

In its report on the security breach, BigONE indicated that the attack had been identified and contained, preventing any further losses. An investigation conducted with SlowMist determined that the incident was the result of a third-party attack targeting the exchange's hot wallet. SlowMist identified the nature of the attack as a supply chain attack. BigONE has pledged to assume full responsibility for any losses resulting from this incident, assuring that customer deposits would not be significantly impacted.

The cryptocurrencies affected by the breach include a substantial amount of Bitcoin, totaling 120 coins, which at the current market rate of nearly $120,000 represents a significant portion of the estimated total loss from this attack. Additionally, 350 Ethereum tokens and 538,000 Doge coins were also stolen. Observers within the cryptocurrency industry have noted that the majority of the stolen currencies have already been exchanged and laundered, obscuring the hackers' tracks.


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