BigONE Exchange Suffers $27M Loss in Supply Chain Attack
The post BigONE Exchange Suffers $27M Loss in Supply Chain Attack appeared on BitcoinEthereumNews.com. BigONE Exchange confirms a $27 million crypto theft through backend server manipulation. No private keys were leaked during the breach; security reserves will cover user losses. SlowMist and PeckShield are assisting in tracking stolen funds and monitoring wallets. The global crypto exchange BigONE reported a $27 million loss on July 16 after a targeted supply chain attack compromised its hot wallet systems. The exchange has assured its users that all stolen assets will be reimbursed and confirmed that the breach occurred without any private keys being leaked. How the Attack Bypassed Security The incident occurred in the early hours of today, July 16, when BigONE’s security team noticed unusual transactions involving platform assets. Upon investigation, the team confirmed that the breach stemmed from a third-party supply chain vulnerability. The attacker gained access to the exchange’s production environment and manipulated the server-side logic that is responsible for user accounts and risk control. By changing how these backend systems operated, the attacker was able to authorize withdrawals and transfer funds without triggering the normal internal security alarms. Related: GMX Hacker Returns Stolen Funds, Nets $3 Million Profit on ETH & Also Claiming Bounty Notably, the private keys linked to BigONE’s wallets were not exposed during the breach. This form of attack, often harder to detect, bypasses traditional defenses by targeting infrastructure rather than credentials. BigONE stated that the breach has been contained, and further losses are unlikely. The exchange immediately partnered with blockchain security firm SlowMist to track the movement of stolen funds and monitor suspicious wallet activity. PeckShield also independently confirmed the exploit and linked it to cross-chain laundering involving Ethereum, BNB Chain, Tron, Bitcoin, and Solana. Funds Stolen Across Multiple Chains The exchange reported significant asset losses across several blockchain networks. Affected assets include large amounts of Bitcoin, Ethereum, Tether…
The post BigONE Exchange Suffers $27M Loss in Supply Chain Attack appeared on BitcoinEthereumNews.com.
BigONE Exchange confirms a $27 million crypto theft through backend server manipulation. No private keys were leaked during the breach; security reserves will cover user losses. SlowMist and PeckShield are assisting in tracking stolen funds and monitoring wallets. The global crypto exchange BigONE reported a $27 million loss on July 16 after a targeted supply chain attack compromised its hot wallet systems. The exchange has assured its users that all stolen assets will be reimbursed and confirmed that the breach occurred without any private keys being leaked. How the Attack Bypassed Security The incident occurred in the early hours of today, July 16, when BigONE’s security team noticed unusual transactions involving platform assets. Upon investigation, the team confirmed that the breach stemmed from a third-party supply chain vulnerability. The attacker gained access to the exchange’s production environment and manipulated the server-side logic that is responsible for user accounts and risk control. By changing how these backend systems operated, the attacker was able to authorize withdrawals and transfer funds without triggering the normal internal security alarms. Related: GMX Hacker Returns Stolen Funds, Nets $3 Million Profit on ETH & Also Claiming Bounty Notably, the private keys linked to BigONE’s wallets were not exposed during the breach. This form of attack, often harder to detect, bypasses traditional defenses by targeting infrastructure rather than credentials. BigONE stated that the breach has been contained, and further losses are unlikely. The exchange immediately partnered with blockchain security firm SlowMist to track the movement of stolen funds and monitor suspicious wallet activity. PeckShield also independently confirmed the exploit and linked it to cross-chain laundering involving Ethereum, BNB Chain, Tron, Bitcoin, and Solana. Funds Stolen Across Multiple Chains The exchange reported significant asset losses across several blockchain networks. Affected assets include large amounts of Bitcoin, Ethereum, Tether…
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