BigONE Suffers $27 Million Loss in Supply Chain Attack

On July 16, 2025, BigONE, a prominent cryptocurrency exchange, experienced a significant security breach due to a supply chain attack, resulting in losses exceeding $27 million. The attack targeted the company’s hot wallet, compromising the production network and allowing the attacker to manipulate the operating logic of account and risk control-related servers. This manipulation enabled the attacker to approve and process unauthorized withdrawals, effectively bypassing the need to infiltrate the system to steal private keys.

The security firm SlowMist, which is assisting BigONE in the investigation, has identified the hacker’s addresses linked to various cryptocurrencies, including Ethereum (ETH), BSC (BNB), Solana (SOL), Bitcoin (BTC), and Tron (TRX). SlowMist is actively tracking the movements of the stolen funds to aid in their recovery. BigONE has taken immediate action to protect user funds by activating internal security reserves and maintaining on-chain liquidity. The exchange has also identified and contained the vulnerability that allowed the attack to occur, ensuring that all private keys remain secure.

In response to the incident, BigONE has disabled its deposit and withdrawal features to prevent further losses. The exchange has promised to resume services within a few hours after implementing additional security measures. BigONE is also actively securing external liquidity through borrowing mechanisms to restore the platform wallet as quickly as possible. The exchange’s proactive measures demonstrate its commitment to safeguarding user funds and maintaining the integrity of its platform.

The supply chain attack on BigONE underscores the growing threat of such attacks in the cryptocurrency industry. These attacks, which target third-party service providers, can have severe consequences for exchanges and their users. The incident highlights the importance of robust security measures and continuous vigilance in protecting against emerging threats. BigONE’s response to the attack serves as a reminder of the critical role that security plays in the cryptocurrency industry and the need for exchanges to remain proactive in defending against potential vulnerabilities.