- BigONE exchange lost $27 million in a hot wallet hack affecting SHIB, DOGE, SOL, BTC, and ETH.
- The exchange will cover losses and is working with security firms to track stolen funds. Crypto hacks continue to challenge the industry in 2025.
A significant security breach has struck the cryptocurrency exchange BigONE, resulting in the theft of $27 million worth of digital assets, including popular tokens like Shiba Inu (SHIB), Dogecoin (DOGE), Solana (SOL), Bitcoin (BTC), and Ethereum (ETH). This recent attack highlights ongoing risks in the crypto space despite growing security measures.
The BigONE Exchange Hack: What Happened?
BigONE, a trading platform known for offering access to over 180 cryptocurrencies, detected abnormal movements in its hot wallet early on July 15, 2025. Security experts from the firm SlowMist confirmed that the attack originated via a third-party vulnerability, targeting BigONE’s hot wallet—the online wallet connected to its live trading system.
The breach resulted in the loss of multiple cryptocurrencies, notably the meme coins SHIB and DOGE, alongside heavyweights like BTC, ETH, and SOL. Following the discovery, BigONE swiftly moved to contain the attack path, preventing further losses and limiting damage.
BigONE’s Response and Recovery Efforts
In a reassuring move to protect its customers, BigONE announced it would cover all losses from the hack using its internal security reserves. The exchange is also collaborating closely with SlowMist and other cybersecurity partners to trace the stolen funds and identify the perpetrators.
While no detailed information about the attackers has been released, the speed of BigONE’s response aims to restore confidence among its users and the broader crypto community.
Crypto Hacks Continue to Shake the Market in 2025
The BigONE hack is just one of several major cryptocurrency security breaches in 2025. Earlier in the year, Bybit suffered a staggering $1.5 billion loss, an attack later linked by the FBI to North Korean hackers. January also saw Phemex lose $85 million due to hot wallet vulnerabilities.
Other notable incidents include Cetus Protocol losing $225 million, Infini $49 million, and Moby $2.5 million to hacking attacks. These incidents collectively demonstrate the ongoing challenges exchanges face in securing digital assets, despite enhanced security protocols.
What This Means for Crypto Investors
As crypto adoption grows, so does the attention from cybercriminals seeking to exploit vulnerabilities. The BigONE hack serves as a critical reminder for investors to remain vigilant. Using trusted exchanges with robust security measures and practicing good personal wallet hygiene remain essential steps to protect assets.
BigONE’s commitment to covering losses and investigating the breach is encouraging, but the broader ecosystem must continue advancing its defenses against increasingly sophisticated attacks.
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