by Introduction: BigONE’s $27 Million Security Breach
In a significant incident that has raised concerns within the cryptocurrency community, BigONE, a prominent crypto exchange, confirmed a $27 million hack resulting from a hot wallet exploit on July 16, 2025. The exchange has publicly vowed to fully compensate affected users, ensuring that their funds remain secure.
Details of the Hack
According to an official statement released by BigONE, the breach was identified following the detection of “abnormal movements” associated with a third-party attack. Fortunately, the exchange has been proactive in addressing the situation, confirming that all private keys remain secure and no further losses are anticipated.
To combat this breach effectively, BigONE has enlisted the expertise of blockchain security firm SlowMist. The firm is actively tracking the stolen assets across multiple blockchains, including Bitcoin, Ethereum, Tron, Solana, and the BNB Chain, in an effort to recover the lost funds.
Stolen Assets Breakdown
The stolen assets during this exploit encompassed a variety of significant and minor cryptocurrencies, including:
- 120 BTC
- 350 ETH
- 9.5 billion SHIB
- 7.1 million USDT (multi-chain)
- 538,000 DOGE (Learn more)
- 1,800 SOL (How to Buy Solana)
- 1 WBTC
- 20,730 XIN
- 15.7 million CELR
- 25,487 UNI
- 16,071 LEO
Refund and Compensation Plans
In light of these events, BigONE has assured its users that their balances are safe. The exchange plans to cover all losses through a combination of its internal reserves, which include BTC, ETH, SOL, and USDT, along with external borrowing to ensure liquidity for niche tokens. This commitment to user compensation reflects BigONE’s dedication to maintaining trust within the cryptocurrency ecosystem.
Operational Status and Security Measures
While deposits and trading are expected to resume within hours following the incident, withdrawals will be temporarily delayed until additional security measures are put in place. The exchange has emphasized its commitment to transparency, stating, “We sincerely apologize for the impact this incident may have caused. All investigation progress and handling results will be communicated with full transparency.”
Impact on the Cryptocurrency Industry
This incident marks another significant hack in the cryptocurrency sector in 2025, pushing the total losses from crypto exploits beyond $2.1 billion for the year. As the cryptocurrency market continues to face challenges, including hacks and scams, users are urged to remain vigilant and employ robust security measures to protect their investments.
For further insights on securing your cryptocurrency portfolio, check out our guides on How to Buy Cryptocurrency and What is XRP.
Conclusion: The Future of BigONE
As BigONE navigates this challenging situation, the cryptocurrency community will be watching closely. The exchange’s ability to effectively manage this crisis and restore user confidence will be critical. With ongoing investigations and recovery efforts underway, it is hoped that BigONE will emerge stronger and continue to provide a secure platform for trading digital assets.
For more on the latest developments in cryptocurrency exchanges, consider reading our reviews on top platforms such as Kraken, Binance, and eToro.
Meta Description: BigONE crypto exchange confirms a $27 million hack on July 16, 2025, and assures users of full compensation. Learn about the incident, stolen assets, and security measures in place to protect user funds.
