$48M In Cross-chain Moves Set Off Alarms At Turkish Exchange BtcTurk, What You Need To Know
The post $48M In Cross-chain Moves Set Off Alarms At Turkish Exchange BtcTurk, What You Need To Know appeared on BitcoinEthereumNews.com.
A coordinated series of on-chain alerts flagged roughly $48 million in unusual transfers tied to Turkish exchange BtcTurk late today. The activity hit seven networks, Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle and Polygon, and concentrated into two destination addresses. 🚨ALERT🚨$48M worth of digital assets have been detected in unusual activity across multiple chains involving Turkish exchange @btcturk About 30 minutes ago, our system detected multiple alerts across $ETH, $AVAX, $ARB, $BASE, $OP, $MANTLE, and $MATIC networks. Most funds were… pic.twitter.com/ss4a7O2hUd — 🚨 Cyvers Alerts 🚨 (@CyversAlerts) August 14, 2025 The pattern reads like a hot-wallet compromise. Alerts fired. Big outbound transactions appear on multiple chains. Most assets flowed to the same two addresses, then began changing form. Chain sleuths watching in real time report the attacker is actively swapping tokens for ETH. BtcTurkKripto confirmed an issue. The exchange posted that “Due to a technical issue in hot wallets, cryptocurrency deposit and withdrawal functions were temporarily suspended. When the issue is resolved, cryptocurrency deposit and withdrawal functions will be reactivated. Trading operations and Turkish Lira deposit/withdrawal transactions continue uninterrupted.” Customers still see spot trading and fiat rails working, but hot-wallet services are paused while the team investigates. Update: BtcTurk (@btcturk) was hacked for more than $48M! The hacker is swapping the stolen assets for $ETH. Address:0x0fe41fe8786329fb6bd8f2baa73aa55e770f09510xa041feb3a8297c5689fee180083164a061a17fd60x7D91D1ebeBA91257733a523409125aEdac5d8b6Ehttps://t.co/GYJhhdA1ra pic.twitter.com/zzkIG2C25L — Lookonchain (@lookonchain) August 14, 2025 Token On-Chain Trails Who’s moving what? The on-chain trail shows a basket of major and layer-2 assets. Here’s a quick price snapshot from CoinMarketCap at reporting time: ETH — ~$4,692 AVAX (Avalanche) — ~$24.11. ARB (Arbitrum) — ~$0.53. OP (Optimism) — ~$0.78. MNT (Mantle) — ~$1.11 MATIC / POL (Polygon) — ~ $0.24. Those tokens moved in slices across chains. The attacker then routed many of them through swaps and liquidity paths that end in ETH — a…
Filed under: News - @ August 14, 2025 10:27 pm