Featured News Headlines
July 16 Crypto Market – BigONE Hot Wallet Hack Adds to 2025 Crypto Losses
July 16 Crypto Market – In a significant security breach, cryptocurrency exchange BigONE suffered a loss of approximately $27 million following a targeted attack on its hot wallet, according to cybersecurity firm SlowMist. The trading platform, known for offering access to over 180 cryptocurrencies, detected suspicious activities earlier today involving key assets including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB)—the two most popular meme coins.
What Happened? BigONE’s Hot Wallet Under Attack
The breach reportedly involved “abnormal movements” of funds from BigONE’s hot wallet, prompting immediate security responses. The exchange claims the attack has been “contained”, preventing further losses. Demonstrating commitment to user protection, BigONE has pledged to cover all losses stemming from the incident by tapping into its internal security reserves.
In collaboration with SlowMist, BigONE is actively tracing the stolen funds to mitigate damages and hold the attackers accountable.
A Growing List of 2025 Crypto Hacks
This incident adds to an alarming list of crypto exchange hacks that have rocked the industry in 2025. Earlier this year, Bybit faced a massive $1.5 billion hack, with investigations by the FBI tracing the breach back to North Korea. Similarly, Phemex lost $85 million across multiple blockchains due to hot wallet vulnerabilities in January.
Other notable hacks this year include Cetus Protocol ($225 million), Infini ($49 million), and Moby ($2.5 million). The Bybit and Cetus incidents alone account for the bulk of losses caused by hacking attacks in the crypto space this year.
The Industry Faces a Growing Security Challenge
With cyberattacks escalating in scale and frequency, exchanges like BigONE are under intense pressure to strengthen defenses. While BigONE’s quick response and promise to cover losses may reassure users, the growing trend of hot wallet attacks signals a need for improved security protocols industry-wide.
As the crypto market continues to expand, keeping digital assets safe remains a top priority for platforms and investors alike.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
