Cryptocurrency exchange BigONE has confirmed a $27 million theft following a cyberattack that compromised its hot wallet on July 16, 2025.
While private keys and user data remain secure, the platform says all affected customers will be fully reimbursed from company reserves.
“In the early hours of July 16, BigONE detected abnormal movements involving a portion of the platform’s assets,” the company said in its statement. The incident was traced to a third-party supply chain attack, according to cybersecurity firm SlowMist, which is now working with BigONE to track the stolen funds.
Deposit and trading services have already been restored, and the company says withdrawal and OTC functions will resume shortly. However, full technical details of how the hackers gained access have not yet been disclosed.
Blockchain tracker Lookonchain reported that the attackers have already laundered the stolen crypto, exchanging it for 120 Bitcoin, 1272 Ether, 2625 Solana, and 23.3 million Tron. Blockchain investigator ZachXBT commented on the breach, noting BigONE’s past involvement with proceeds from romance baiting and investment scams. He suggested that such incidents may lead to a natural cleanse in the crypto space.
Earlier today, blockchain analytics firm Chainalysis released its 2025 mid-year report, revealing that over $2.17 billion has been stolen so far this year, already surpassing the total stolen in 2024. A significant portion of that figure came from the $1.5 billion hack of ByBit, allegedly carried out by North Korean threat actors.
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Chainalysis also highlighted a growing trend of hackers targeting personal wallets, which now account for over 23 percent of all stolen funds this year. The report further noted an increase in physical attacks tied to cryptocurrency theft, often correlating with Bitcoin price surges.
