The post 27M Vanishes in BigONE Hack but That’s Not the Most Shocking Part of the Attack appeared on BitcoinEthereumNews.com.

Key Takeaways: Crypto exchange BigONE suffered a $27 million loss in a targeted supply chain attack on July 16. Hacker bypassed private keys by compromising the production environment, modifying risk control servers. BigONE has pledged full compensation and activated emergency reserves to restore affected assets. In one of the most sophisticated exploits of 2025, Singapore-based crypto exchange BigONE has confirmed it was hacked, with attackers siphoning off over $27 million worth of digital assets. The breach, discovered in the early hours of July 16, exploited vulnerabilities deep within the exchange’s infrastructure, without compromising private keys. The fallout exposes critical risks in how centralized platforms manage backend security. Inside the Breach: How the Hack Unfolded Blockchain security firm SlowMist, which is investigating the incident alongside BigONE, classified the breach as a supply chain attack. Rather than gaining access through user-facing systems or stolen credentials, the attacker infiltrated BigONE’s production network, specifically targeting servers tied to account logic and risk control. This allowed unauthorized fund withdrawals from the exchange’s hot wallet, which held a wide variety of crypto assets. The attacker did not need private keys, highlighting how backend infrastructure, often overlooked, can become a single point of failure in high-volume platforms. “The operating logic of the risk control system was modified, giving the attacker direct access to user funds,” SlowMist stated in its July 16 update on X. The attack went undetected until unusual asset flows triggered internal alarms. Once flagged, BigONE froze critical operations and isolated the breach path. The platform assures users that private keys were not exposed, and that the attack vector has been sealed. Stolen Assets: A $27M Mix Across Chains The stolen funds spanned multiple blockchain networks and included both major and obscure tokens. BigONE disclosed the following as part of its preliminary audit: Token Amount…

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Filed under: News - @ July 16, 2025 8:26 pm