The cryptocurrency exchange BigONE has admitted to a cyberattack on the digital deposits it manages, in which Bitcoin, Ethereum, and other tokens worth a total of US$27 million were stolen. However, the operators assure that no private keys or user data were affected. In addition, the crypto exchange is taking responsibility and will reimburse affected customers for their losses.
According to market researchers, this year’s crypto thefts have already exceeded the total losses for the whole of last year. This is largely due to the biggest crypto heist of all time, in which Bybit lost $1.5 billion. According to initial details of the investigation into the Bybit case, cybercriminals were able to steal such a large amount of cryptocurrency because they managed to manipulate the “Safe{Wallet}” wallet used by the affected company. The FBI blames the North Korean-linked group “TraderTraitor” for the attack.
Crypto thefts on track to reach record levels in 2025
Market researchers at Chainalysis have now tallied this year’s crypto thefts and, in their mid-year update, estimate that over $2.17 billion will be stolen from crypto services in 2025. That is already more than in the entire previous year of 2024, when the figure was less than $2 billion. Market researchers currently estimate that the total value of cryptocurrencies stolen in 2025 will exceed $4 billion if the current trend continues.
The attack on BigONE, on the other hand, is relatively small and not even included in the market researchers’ report, as it only happened this week. On Wednesday, the crypto exchange initially suspended deposits and trading because unusual activity was detected in some assets stored on the platform. BigONE is working with IT security firm SlowMist, which also advised in the Bybit case, to investigate the incidents.
BigONE covers losses from the attack
In its report on the security incidents, BigONE states that “the attack has been identified and contained, so no further losses will occur.” According to the investigation conducted jointly with SlowMist, “this was the result of a third-party attack targeting our hot wallet.” According to SlowMist, this was a supply chain attack. BigONE promises to “take full responsibility for all losses incurred as a result of this incident.” Customer deposits are not expected to be significantly affected.
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The crypto exchange also lists the types of cryptocurrencies impacted. According to this, 120 Bitcoins were withdrawn, which at the current price of almost $120,000 represents more than half of the total losses of this attack, estimated at $27 million. In addition, 350 Ethereum tokens and 538,000 Doge coins were also stolen. According to observers of the crypto industry and blockchain, the hackers have already exchanged and laundered most of the stolen cryptocurrencies to cover their tracks.
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