BigONE Exchange Suffers Supply Chain Attack, Losses Exceed $27M

Crypto exchange BigONE has suffered a third-party attack on Wednesday, confirming estimated losses of $27 million. Attackers allegedly tweaked BigONE’s server logic via supply chain to withdraw funds.

Blockchain security platform SlowMist initially reported that BigONE’s production network was compromised. “The operating logic of account and risk control related servers was modified, enabling the attacker to withdraw funds,” the security firm wrote on X.

SlowMist TI Alert

The exchange @BigONEexchange was exploited due to a supply chain attack and loss exceeds $27 million. The production network was compromised, and the operating logic of account and risk control related servers was modified, enabling the attacker to withdraw… pic.twitter.com/GkxlNIUs6A
— SlowMist (@SlowMist_Team) July 16, 2025

BigONE later confirmed the attack, assuring users that all private keys remain secure and user assets are safe. Further, BigONE has claimed that they’ll cover all losses.

“All user assets are safe. BigONE will fully bear all the losses. Trading and deposits will resume soon; withdrawals after added security upgrades,” the exchange noted.

BigONE is closely working with the SlowMist team to trace the hacker’s addresses and monitor fund movements, the exchange said in an official release.

Production Network Was the Main Target

The attackers exploited the supply chain vector, gaining access to BigONE’s production infrastructure, according to security firms.

As a result, the logic around risk management was tampered with, along with account operations, leading attackers to siphon funds exceeding $27 million.

The exploiter extracted around $4 million in ETH and multiple other tokens, according to CertiK Alert.

“The attacker is already moving funds swapping into TRX, BTC, ETH & SOL,” another security firm noted. According to Lookonchain data, the hacker quickly split and converted the funds, moving 120 Bitcoin worth $14.15 million, 23.316 million Tron tokens worth $7.01 million, 1,272 Ether worth $4 million and 2,625 Solana tokens worth $428K, across multiple addresses.

Additionally, the BigONE team noted that in order to handle losses and compensation, they have activated our internal security reserves, which include BTC, ETH, USDT, SOL, and XIN tokens.

“For other affected mainstream and non-mainstream tokens, we are actively securing external liquidity through borrowing mechanisms to restore the platform wallet as soon as possible,” BigONE added.

The post BigONE Exchange Suffers Supply Chain Attack, Losses Exceed $27M appeared first on Cryptonews.

3.7K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.