Ethereum News Today: BtcTurk Hackers Move $42 Million in Stolen Crypto Across Blockchains

BtcTurk, one of Türkiye’s largest cryptocurrency exchanges, has reported unusual movements in its hot wallets, prompting a temporary suspension of cryptocurrency deposits and withdrawals [1]. The company emphasized that the majority of user assets remain secure in cold storage and that Turkish Lira transactions continue to function normally. On-chain data reveals that the stolen assets—estimated in the tens of millions—have been actively moved and swapped across multiple blockchain networks in the past three weeks [1].

Hackers have distributed the stolen funds across two primary addresses, with the first holding $19.4 million and the second $22.6 million in various digital assets. The first address shows a significant concentration in Ethereum (ETH), with 3,489.82 units valued at $15.90 million (81.62% of the total), alongside smaller amounts in Avalanche (AVAX), Arbitrum (ETH), Base (ETH), Optimism (ETH), zkSync (ZK), Mantle (MNT), Polygon (POL), and Moonbeam (GLMR). The second address is similarly dominated by ETH, with 3,845.16 units valued at $17.53 million (77.30%), followed by AVAX, Optimism (ETH), Arbitrum (ETH), Base (ETH), Moonbeam (GLMR), Mantle (MNT), and a minor amount in zkSync (ETH) [1].

The continuous swapping of these assets between tokens and wallets indicates a deliberate attempt to obscure the trail and avoid detection. These movements are occurring primarily through decentralized exchanges, where anonymity is a key feature. While blockchain intelligence firms and local authorities are monitoring the activity, the decentralized and pseudonymous nature of the transactions makes full recovery unlikely. The rapid and coordinated swaps also suggest the hackers are either testing strategies for larger market interventions or preparing for a potential large-scale liquidation [1].

The broader cryptocurrency market is currently navigating macroeconomic uncertainties, including recent inflation data and expectations of delayed rate cuts. On August 9, 2025, analyst Miles Deutscher noted that the Producer Price Index (PPI) had risen to 3.3 percent, reinforcing concerns about delayed monetary policy easing and triggering a short-term market downturn [2]. Despite these challenges, Deutscher expressed a bullish outlook on Ethereum (ETH), Ethena (ENA), and Chainlink (LINK), emphasizing that the fundamental underpinnings of the market remain intact [2].

The ongoing BtcTurk incident underscores the vulnerabilities inherent in digital asset platforms and the speed with which attackers can exploit them. The active movement of stolen assets presents a heightened risk of sudden market instability, particularly if a large portion of the funds is eventually liquidated. As the crypto industry and regulators continue to respond, this case highlights the urgent need for enhanced security protocols and real-time monitoring tools [1].

Source: [1] What is the Latest Situation Regarding the BtcTurk Hack? Hackers Are Constantly Swapping Their Funds – Here Are Their Current Assets, (https://en.bitcoinsistemi.com/what-is-the-latest-situation-regarding-the-btcturk-hack-hackers-are-constantly-swapping-their-funds-here-are-their-current-assets/)

[2] Renowned Analyst Reveals Three Altcoins He Bought During the Downturn and Shares His Altcoin Season Prediction, (https://en.bitcoinsistemi.com/renowned-analyst-reveals-three-altcoins-he-bought-during-the-downturn-shares-his-altcoin-season-prediction/)