The BigONE cryptocurrency exchange experienced a $27 million hack on July 16, 2025, caused by a sophisticated crypto supply chain attack. Hackers compromised the exchange's production network without accessing private keys, manipulating internal systems to authorize fund withdrawals from hot wallets. The stolen assets included 121 Bitcoin, 350 Ether, 9.69 billion Shiba Inu, and substantial amounts of Dogecoin and Tether USDt. BigONE promptly detected unusual asset movements and confirmed a third-party attack targeting its hot wallet. Following the incident, BigONE reassured users that private keys remained secure and committed to covering losses from its insurance fund. The exploit involved social engineering tactics to compromise a developer's device and allowed attackers to modify accounting logic temporarily. The stolen funds were quickly laundered through various blockchains, complicating recovery efforts. Blockchain security firm SlowMist is investigating the incident and is working to trace the funds through forensic methods. The attack highlights increasing vulnerabilities in centralized exchanges, with effective system security remaining essential in preventing such breaches.

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