BigONE Suffers $27M Breach, Promises Full User Compensation

BigONE, a global crypto exchange, confirmed on July 16 that it experienced a significant security breach targeting its hot wallet, resulting in losses estimated at $27 million. The exchange attributed the incident to a third-party attack, which also involved unauthorized changes to its production systems and risk control mechanisms.

Blockchain security firm SlowMist flagged the incident and is working with BigONE to track the stolen funds. According to the exchange, the breach has been fully contained, and all user private keys remain secure.

"BigONE will fully cover all losses incurred from this incident. User assets will not be affected in any material way," the company stated. Internal reserves in major tokens such as BTC, ETH, USDT, SOL, and XIN have been deployed to stabilize affected accounts.

While key trading and deposit services were quickly restored following a system upgrade, withdrawal and OTC services remain temporarily offline pending further security checks. BigONE is also seeking external liquidity sources to expedite full restoration of its wallets.

The incident is among the latest in a string of targeted attacks on digital asset platforms, raising ongoing concerns about operational resilience and cybersecurity in the crypto space.