BigONE Exchange Loses $27 Million in Supply Chain Attack, SHIB Price Remains Stable

On July 16, 2025, BigONE exchange experienced a significant supply chain attack, resulting in the theft of over $27 million in cryptocurrencies, including nearly 10 billion Shiba Inu (SHIB) tokens. The breach was notable for bypassing internal controls without compromising private keys, raising serious concerns about the security of backend systems in crypto exchanges.

The stolen assets included 121 BTC, 350 ETH, 8.54 million USDT, 1,800 SOL, and 9.69 billion SHIB tokens. This incident highlights the evolving threat landscape where attackers are increasingly targeting supply chain weaknesses, challenging exchanges to enhance their internal controls and system integrity. BigONE's immediate response involved freezing withdrawals and initiating a recovery plan, but the breach underscores critical questions about the robustness of backend security protocols across the industry.

Despite the massive token outflow, SHIB’s price showed remarkable resilience, defying typical market panic responses. Analyzing SHIB’s one-minute price chart during the hours after the breach revealed a brief dip below $0.00001350, quickly recovering to approximately $0.00001370. This price stability suggests several possible factors at play, including low liquidity on BigONE, the vast circulating supply of SHIB, and retail investors’ confidence in SHIB’s long-term value. These factors may have mitigated knee-jerk reactions and contributed to this atypical response, highlighting the complexity of price movements in the wake of security incidents.

The BigONE breach serves as a cautionary tale for the crypto industry, emphasizing the need for comprehensive security measures beyond user-facing protections. Supply chain attacks exploit third-party dependencies and backend vulnerabilities, which can lead to significant asset losses without direct wallet compromises. For investors, the incident reinforces the importance of due diligence when selecting exchanges, focusing on transparency, security audits, and incident response capabilities. The swift freezing of withdrawals by BigONE and public communication efforts are positive steps, but the event may prompt broader regulatory scrutiny and industry-wide security enhancements.

As supply chain attacks become more sophisticated, exchanges must prioritize multi-layered security frameworks, including rigorous vendor assessments, real-time monitoring, and rapid incident containment strategies. The BigONE case illustrates that backend system integrity is as critical as protecting user wallets. Meanwhile, SHIB’s price stability post-attack suggests that mature markets with high liquidity and engaged communities can better withstand shocks. This resilience could encourage other projects to invest in community-building and liquidity enhancement to buffer against similar incidents.

The BigONE supply chain attack, resulting in the loss of over $27 million and billions of SHIB tokens, exposes critical security challenges for cryptocurrency exchanges. Yet, SHIB’s unexpected price stability offers a nuanced perspective on market dynamics amid crises. Moving forward, the industry must bolster backend security measures and foster investor confidence through transparency and robust risk management. This incident serves as a pivotal moment for exchanges and token communities alike to reassess vulnerabilities and strengthen defenses against emerging threats.