- Main event involves BigONE exchange’s fund withdrawal exploit.
- $27 million estimated loss across multiple blockchains.
- BigONE’s user asset safety; SlowMist monitors hacker wallets.
SlowMist has confirmed a supply chain attack on the BigONE exchange, which occurred on July 16, 2025. The attacker manipulated the operating logic of account-related servers, enabling unauthorized fund withdrawals.
The breach highlights the vulnerability of centralized exchanges to supply chain attacks, affecting multiple blockchain networks. This substantial incident emphasizes the importance of robust security protocols in the cryptocurrency industry.
SlowMist disclosed the attack, highlighting compromised production network logic allowing fund withdrawals. As stated by the SlowMist Team, Security Firm, SlowMist:
“The production network was compromised, and the operating logic of account and risk control related servers was modified, enabling the attacker to withdraw funds.”
BigONE confirmed on social media that user assets are safe and all losses will be covered, with withdrawals resuming post-security upgrades.
The attack drained approximately $27 million from BigONE, impacting BTC, ETH, USDT, SOL, and XIN assets across Ethereum, Solana, TRON, and Bitcoin blockchains. BigONE will use internal reserves to cover shortfalls and seek external partners.
User trust in exchanges might waver, reflecting the incident’s impact on mid-sized exchanges. BigONE’s trading volume might suffer temporarily. Industry professionals have criticized BigONE’s security measures and prior alleged activities.
Previous attacks on similar exchanges resulted in short-term trading disruptions but full asset recovery mitigated broader token impacts. Experts stress the need for continued improvements in exchange infrastructure to prevent future breaches.
The attack underlines the need for tighter regulatory oversight and improved security in the crypto sector. Historical trends indicate potential industry adjustments if similar events persist, challenging exchanges’ reputations and investor confidence.
