BigONE Exchange confirmed today that it lost $27 million after falling victim to a supply chain attack, making it one of the largest heists in the exchange’s history.
The incident unfolded in the early hours of July 16, when abnormal asset movements triggered red alerts within BigONE’s real-time monitoring systems. A swift investigation revealed the cause: a third-party actor had exploited a vulnerability in the exchange’s production environment, altering the operating logic of servers that control accounts and risk management.
This sophisticated manipulation enabled the attacker to perform unauthorized fund withdrawals, even though private keys themselves remained uncompromised.
Unlike “traditional” hacks, this instance was a supply chain attack: instead of breaching wallets directly, hackers infiltrated a crucial link in the exchange’s internal technological infrastructure. Blockchain security firm SlowMist, which worked closely with BigONE to investigate the incident, described it as :
“A compromise of the production network, modifying account and risk control server logic, enabling the attacker to withdraw funds.”
Affected Digital Assets
Early estimates put the losses at $27 million, making this one of the most significant crypto exchange exploits of 2025. The attacker targeted BigONE’s hot wallets across multiple blockchains, draining a range of assets, including:
- Bitcoin (BTC): 120–121 BTC
- Ethereum (ETH): 350 to 1,272 ETH (varies per analysis)
- USDT (Tether): Over $8.5 million
- Solana (SOL): At least 1,800 SOL
- Other Tokens: DOGE, SHIB, CELR, SNT, UNI, among others
In total, the hack affected assets held on Ethereum, Bitcoin, TRON, and Solana chains, demonstrating its broad reach and technical complexity.
How BigONE Exchange Responded
Upon detecting the breach, BigONE immediately suspended deposits and trading, moving to isolate the attack vector and prevent further losses. Withdrawals remain paused while additional security reinforcements are implemented. They also provided key assurance, insisting that private keys remain safe and have not been exposed.
The exchange pledged to fully compensate users using its internal security reserves, including BTC, ETH, USDT, SOL, and XIN. For other affected tokens, external liquidity will be secured through borrowing mechanisms to restore wallet balances.
Furthermore, deposits and trading have since been restored, with withdrawals to resume only after confirmation that no ongoing threat remains and all systems are secure.
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