BigONE Hacked: Hacker Steals Over $27 Million Worth of Crypto

The post BigONE Hacked: Hacker Steals Over $27 Million Worth of Crypto appeared first on Coinpedia Fintech News

A major crypto exchange has just faced one of its worst nightmares. Singapore-based cryptocurrency exchange BigONE was hit by a stealthy supply chain attack that allowed hackers to bypass its defenses without ever needing private keys. 

With over $27 million in assets drained, security teams are now racing to track the stolen funds. 

Here’s what happened.

According to an official statement from BigONE, the attack targeted its production network, compromising key servers responsible for account management and risk control. This allowed hackers to withdraw crypto assets, even though no private keys were stolen.

The total loss is estimated at over $27 million, with funds taken from multiple wallet addresses.

Blockchain security firm SlowMist, which is now helping track the attacker, confirmed that the breach was the result of a supply chain attack, one of the most dangerous and stealthy forms of cyber intrusion in the crypto space.