A significant cyberattack has hit Turkish crypto exchange BtcTurk, resulting in the theft of around $48 million in digital assets.
On August 14, blockchain security firm Cyvers revealed that the stolen funds were transferred across various networks, including Ethereum, Avalanche, Arbitrum, and others.
The majority of the assets were sent to just two addresses, where the attacker has initiated exchanges.
Confirming the breach, BtcTurk stated that only hot wallets were impacted and assured users that their holdings in cold wallets were safe. The exchange, with over five million users, temporarily halted cryptocurrency deposits and withdrawals as a precautionary measure.
The company also mentioned that trading activities and fiat transactions in Turkish Lira were ongoing without disruptions.
BtcTurk has notified authorities and is working closely with cybersecurity experts to fortify its systems against future threats.
This recent attack mirrors a previous incident where BtcTurk’s hot wallets were targeted, resulting in losses exceeding $55 million.
Rising Attacks on Centralized Exchanges
The latest breach at BtcTurk adds to the wave of attacks experienced by centralized crypto exchanges this year.
Earlier, Bybit, a prominent exchange, fell victim to a hack that saw approximately $1.5 billion in Ethereum tokens stolen.
Other platforms like India’s CoinDCX have also suffered losses exceeding $44 million in separate incidents.
The article “BtcTurk hack sees $48 million in crypto vanish from hot wallets” first appeared on CryptoSlate.
