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On July 16, 2025, the crypto industry was rocked by a significant security incident involving BigONE, a cryptocurrency exchange headquartered in Singapore. Hackers executed a sophisticated attack, stealing over $27 million in digital assets, including Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and Solana (SOL). This incident has raised concerns about exchange security and the challenges of tracking stolen cryptocurrencies across multiple blockchains.
How the BigONE Hack Unfolded
The attack was a meticulously planned supply chain exploit targeting BigONE’s production network. Hackers compromised servers handling account and risk control, enabling unauthorized withdrawals without accessing private keys. This breach allowed the theft of approximately 120 BTC ($14.15M), 23.3 million TRX ($7M), 1,272 ETH ($4M), and 2,625 SOL ($428,000), alongside other tokens like Shiba Inu (SHIB) and Dogecoin (DOGE). The stolen assets were quickly swapped across Ethereum, BNB Chain, Solana, Bitcoin, and TRON networks, with some funds consolidated via cross-chain bridges. One wallet linked to the hacker currently holds around $4 million in ETH and other tokens.
The sophistication of the attack highlights vulnerabilities in centralized exchanges, prompting renewed discussions about the need for enhanced cybersecurity measures. Despite the breach, BigONE has assured users that their assets are safe and the exchange will cover losses using its reserves.
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Impact on the Crypto Community
The BigONE hack underscores the persistent risks in the cryptocurrency ecosystem. The crypto heist has rattled investor confidence, as such incidents often lead to market volatility. The stolen BTC, ETH, TRX, and SOL were moved across multiple blockchains, making tracking challenging for authorities. Blockchain analysis firms reported that the hacker’s addresses, including one on Ethereum (0x9Bf7a4dDcA405929dba1FBB136F764F5892A8a7a) and another on Solana (HSr1FNv266zCnVtUdZhfYrhgWx1a4LNEpMPDymQzPg4R), are under scrutiny. This incident serves as a reminder for users to prioritize secure storage solutions, such as hardware wallets, over keeping funds on exchanges.
BigONE has committed to resuming trading and deposits soon, with withdrawals to follow after implementing security upgrades. The exchange is working with cybersecurity experts to trace the stolen funds and prevent future breaches.
What’s Next for BigONE and Investors?
BigONE’s response to the cryptocurrency theft includes a full investigation and collaboration with blockchain security firms to track the hacker’s movements. The exchange’s ability to cover losses may help restore user trust, but the incident raises broader questions about the safety of centralized platforms. Investors are urged to stay vigilant, monitor their accounts, and consider diversifying their holdings across secure wallets. As the crypto market evolves, exchanges must adopt advanced security protocols to protect against increasingly sophisticated attacks.
FAQs
What was stolen in the BigONE hack?
Over $27 million in cryptocurrencies, including 120 BTC, 23.3 million TRX, 1,272 ETH, and 2,625 SOL, along with other tokens like SHIB and DOGE.
How did hackers breach BigONE’s security?
The attackers used a supply chain exploit, compromising servers related to account and risk control to facilitate unauthorized withdrawals.
Are user funds safe on BigONE after the hack?
BigONE has stated that user assets are secure and will cover all losses using its reserves, with trading set to resume soon.
Can the stolen cryptocurrencies be recovered?
While tracking is ongoing with blockchain analysis, recovering funds is challenging due to the assets being swapped across multiple blockchains.
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