The latest security breach in the crypto world has rocked BigONE Exchange, as a massive hack hits BigONE resulting in over $27 million in losses. Attackers targeted a range of digital assets, including Bitcoin (BTC), Ethereum (ETH), TRON (TRX), and Solana (SOL) — prompting the platform to halt operations and initiate a full-scale investigation.
$27M Drained as Hack Hits BigONE Exchange
According to blockchain analytics firm Lookonchain, suspicious outflows began late July 17, when a series of large transactions were detected from BigONE’s hot wallet. Within minutes, $15.5M in ETH, $6.9M in BTC, $3M in SOL, and smaller amounts of TRX and USDT were siphoned into newly created wallets.
Lookonchain’s alert revealed that the stolen funds were quickly swapped using decentralized platforms and cross-chain bridges, a tactic often employed to obfuscate the trail and avoid immediate blacklisting.
BigONE confirmed the incident on its official X account, stating that trading and withdrawals had been temporarily suspended while the team worked with forensic experts and global security partners to trace the breach.
What We Know About the Attack
While technical details remain scarce, initial indicators suggest that the attackers exploited vulnerabilities in hot wallet infrastructure. The speed and sophistication of the exploit point to an organized and well-funded group, possibly leveraging compromised private keys or internal access.
Some analysts have speculated that the attack could be linked to previously identified groups known for targeting centralized exchanges. However, no attribution has been officially confirmed by BigONE at this time.
Blockchain security firm PeckShield also flagged the incident, noting the rapid movement of funds across multiple DEX platforms, and the use of mixing services to obscure the origin of the assets.
BigONE’s Response and User Impact
In the hours following the breach, BigONE released a statement reassuring users that all cold wallet reserves remained secure and that affected assets were limited to a portion of hot wallet funds.
The exchange is reportedly coordinating with law enforcement agencies and deploying emergency security patches. A comprehensive compensation plan is expected, though details have not yet been disclosed.
Historically, centralized exchanges have absorbed user losses after major exploits, but user confidence is understandably shaken. BigONE urged its users to remain patient and promised transparent updates as the investigation unfolds.
Not the First – And Likely Not the Last
This incident follows a string of high-profile hacks in 2025, with more than $900 million stolen from centralized platforms since January, according to De.Fi’s REKT Database.
The Hack Hits BigONE at a critical time when crypto exchanges face increasing regulatory scrutiny over custodial security and user protection standards. Analysts argue that the industry must shift toward improved key management, audit transparency, and real-time monitoring to prevent future incidents.
Final Thoughts: What the Hack Hits BigONE Means for Crypto Security
As this Hack Hits BigONE, it serves as a stark reminder of the persistent vulnerabilities in centralized exchange infrastructure. While BigONE’s quick acknowledgment and investigation are commendable, the broader industry must evolve faster than the attackers.Whether this breach leads to deeper reforms or is simply added to the growing list of crypto heists remains to be seen. In the meantime, users are urged to avoid storing large balances on centralized exchanges and to explore safer alternatives like hardware wallets or self-custodial DeFi solutions.
