BigONE, a cryptocurrency exchange known for supporting a wide range of digital assets, has confirmed a major security breach that led to the theft of approximately $27 million. The incident, which took place today in the “early hours,” involved a targeted attack on the platform’s hot wallet by an external party.
The company says the breach has been fully contained and all private keys remain secure. While trading and deposits are expected to resume within hours, withdrawals will be temporarily disabled until additional security layers are in place.
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In collaboration with blockchain security firm SlowMist, BigONE is actively tracing the hacker’s wallets and monitoring any movement of the stolen funds. Among the compromised assets were 120 BTC, 350 ETH, nearly 8.5 million USDT (across TRC20, ERC20, BSC, and SOL chains), 20,730 XIN, and more than 9.6 billion SHIB tokens. Popular tokens like UNI, DOGE, CELR, and SOL were also part of the breach.
To reassure its users, BigONE said it will fully cover all losses using a mix of internal security reserves and external liquidity borrowing. The platform’s emergency fund includes major assets like BTC, ETH, USDT, SOL, and XIN, which will be used to quickly replenish affected wallets.
Importantly, the exchange emphasized that no users will face material loss and promised full transparency as it continues to investigate and recover. While full asset recovery remains uncertain, BigONE’s decision to activate its reserves immediately may help maintain trust and minimize disruption.
The crypto industry continues to wrestle with hot wallet vulnerabilities. Unlike cold wallets that remain offline, hot wallets are connected to the internet for transactional ease. That obviously also makes them more exposed to targeted attacks.
BigONE has pledged to issue frequent updates as it works to restore full functionality and determine the exact scope of the breach.
