14.08.2025 14:55

Turkish cryptocurrency exchange BtcTurk has announced a significant security breach resulting in the loss of approximately $49 million in digital assets. The attack, a sophisticated multi-chain exploit, affected a wide range of cryptocurrencies including Ethereum, Solana, and several other prominent blockchain networks.

Investigators have identified two primary wallets receiving the stolen funds. Following the initial transfer, the perpetrators immediately began converting the stolen cryptocurrencies into other assets, likely to complicate tracing and recovery efforts. This rapid response highlights the attackers’ preparedness and expertise.

This marks the second major security incident for BtcTurk in less than a year. In June 2024, the exchange experienced a similar breach, losing a staggering $55 million. This repeated vulnerability raises serious questions about the platform’s security protocols and its ability to protect customer funds.

In response to this latest attack, BtcTurk has temporarily suspended both deposits and withdrawals while a thorough investigation is underway. The exchange is cooperating with relevant authorities and cybersecurity experts to determine the full extent of the breach and identify the individuals responsible. Customers are urged to remain patient and await further updates from the exchange regarding the ongoing investigation. The impact of this incident underscores the ever-present risks associated with storing cryptocurrencies on centralized exchanges.