BTCTURK, one of Türkiye The largest exchanges of cryptocurrency, has undergone a 48 million dollar hack that targeted its hot wallets. The company initially paused deposits and cryptocurrency withdrawals, although Fiat Trading and Lira transactions have remained online. What started like a vague “technical problem” It was quickly revealed to be something much more serious. External analysts reported it as a multi-reite attack that emptied resources in a highly coordinated way.
The hackers have moved the funds on multiple blockchains
According to independent monitoring companies, The stolen funds have been rapidly disseminated Through seven different blockchains. These included Ethereum, avalanche, arbitrum, base, optimism, mantle and polygon. Most of the resources ended up in just two wallets and the attacker wasted no time to start the recycling process. They started to exchange tokens to obscure the source, making it more difficult to trace and recover the funds.
Btcturk (@Btcturk) has been violated for more than $ 23 million!
The hacker is exchanging the stolen resources $ Eth.https: //t.co/qm5jbebk5p pic.twitter.com/ffVVTD1KP7G
– Lookonchain (@lookonchain) August 14, 2025
The cold wallets are safe, but trust has had a blow
BTcturk was quick to reassure customers that only hot wallets have been affected. The vast majority of funds said, remains safe in refrigeration care. The exchange also confirmed that no personal user was compromised. However, the damage is not only financial. Many users now wonder how really safe the platform is and if the same could happen again.
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This It is not first time
If this seems familiar, his Because BTCTURK was hacked Before. In June 2024, a violation of the separate hot portfolio led to the loss of $ 55 million. That accident forced the leadership changes and raised criticism to exchange internal security systems. See a similar event to take place again only a year later raises serious questions about what it has Actually changed since then.
A scheme This is Become difficult to ignore
This it is not Just an exchange. The cryptographic space was hit by a wave of hacks this summer. Only in July, about $ 142 million was stolen from various platforms. Add Btcturk’s The last loss of the pile and the total violations of this summer have already crossed $ 200 million. Centralized exchanges continue to be a high -value goal for hackers and the aggressors of the tools are using Continue to obtain more sophisticated.
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What users should take from this
Hot wallets are built For speed and comfort, but that speed has a risk. They are always online, which makes them vulnerable. For users, this is another reminder to limit how much crypt they keep exchanges and pay attention to where and how their goods are stored. He also presss the platforms to be transparent on their safety measures before Something goes wrong.
What happens later
THE striker The wallets are observed closely by chain analysts, but there is No guarantee The stolen funds will be recovered. BTCTURK says that he is working with the IT security teams and the legal authorities to investigate. What Truly The issues are now if the exchange brings lasting improvements or continues to treat these events as isolated accidents.
Safety is never perfect, but repeating the same mistakes is a choice. If the cryptocurrency industry wants to grow onHe must treat security as the infrastructure, not just a rethinking when things break.
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BTCTURK has lost $ 48 million in a violation of the targeted hot portfolio involving seven blockchains, highlighting a coordinated attack between the networks.
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While the cold wallets were not touched and no user was leaked, the trust in the BTCTURK platform had a serious blow.
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This marks the second large hack for BTCTURK in just over a year, raising concerns about unresolved security problems.
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Only July has seen over $ 200 million in cryptocurrency hacks through exchanges, showing a growing trend in large -scale violations.
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Users are reminded of the risks of archiving funds in the hot wallets and inviting to limit participations on centralized platforms.
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