Cryptocurrency exchange BigONE confirmed a major security breach on July 16, during which threat actors stole $27 million worth of digital assets from the platform’s hot wallet.
The breach was detected in the early hours, when abnormal asset movements triggered internal alarms. According to BigONE:
“In the early hours of July 16, BigONE detected abnormal movements involving a portion of the platform’s assets. Upon investigation, it was confirmed to be the result of a third-party attack targeting our hot wallet.”
The exchange clarified that private keys and user data remain secure, and assured that all affected customers will be fully reimbursed using internal reserves.
“BigONE will fully cover all losses incurred from this incident. User assets will not be affected in any material way.”
Following the incident, BigONE worked with blockchain security firm SlowMist to investigate the breach and monitor the flow of stolen assets. While technical details on the compromise remain limited, SlowMist described it as a supply-chain attack.
Within hours of the disclosure, BigONE resumed deposit and trading services. Withdrawal and OTC functions, however, remain temporarily disabled as of this writing.
Stolen Crypto Actively Laundered
According to blockchain analytics firm Lookonchain, the attackers began laundering the stolen assets soon after the breach. The funds have already been swapped into a diverse mix of tokens, including:
- 120 Bitcoin (BTC)
- 1,272 Ether (ETH)
- 2,625 Solana (SOL)
- 23.3 million Tron (TRX)
The scale and sophistication of the laundering effort suggest the attackers moved quickly to avoid detection or freezing of funds.
Blockchain investigator ZachXBT also weighed in on the breach, pointing out BigONE’s previous links to handling proceeds from romance scams and investment frauds, adding that such incidents may serve as a market correction for high-risk players.
2025 on Track for Record-Breaking Crypto Thefts
The BigONE hack adds to what is shaping up to be a record year for crypto-related cybercrime. Chainalysis, in its 2025 mid-year crypto crime report, revealed that $2.17 billion has already been stolen this year—surpassing the total theft volume for all of 2024.
A major contributor to this figure is the $1.5 billion ByBit hack, which has placed North Korean threat actors at the top of the 2025 threat landscape so far.
Chainalysis also reported a shift in attacker focus toward individual wallet thefts, which now account for 23.35% of all crypto stolen this year. Cases involving physical violence tied to crypto theft have also risen, reportedly correlating with Bitcoin’s recent price surges.
As for BigONE, while immediate financial recovery is being promised, the full picture of how the breach occurred—and whether other platforms may be exposed to similar supply-chain vulnerabilities—remains unclear.
