BigONE Hack Drains $27M—Raises Fresh Concerns Over Exchange Security

The cryptocurrency industry is grappling with yet another high-profile hack after BigONE confirmed a $27 million exploit on Wednesday.

The Seychelles-based exchange reported losses across Bitcoin, Ethereum, Solana, and stablecoins, with blockchain sleuths at SlowMist tracing the breach to a supply chain attack. Unlike typical wallet breaches, hackers modified server logic to bypass security—without accessing private keys.

BigONE has yet to outline a recovery plan, leaving traders anxious. The incident underscores persistent security challenges in crypto, even as exchanges ramp up safeguards.