BtcTurk Turkey’s Second-Largest Crypto Exchange Loses $48M in
0Crypto hack
Crypto Journalist
Anas Hassan
Crypto Journalist
Anas Hassan
About Author
Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
Author Profile
Share
Copied
Last updated:
August 14, 2025
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Turkish crypto exchange BtcTurk is facing allegations of a $48 million security breach in a coordinated multi-chain attack targeting its hot wallets.
The exploit, first detected by blockchain security firm Cyvers, involved suspicious transfers across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon networks, with most funds consolidating into just two recipient addresses.
Following the detection, BtcTurk immediately suspended all cryptocurrency deposits and withdrawals, stating in Turkish that operations were halted “due to a technical problem in hot wallets” while assuring users that fiat currency transactions remained unaffected.
Coordinated Multi-Chain Attack Targets Hot Wallets.
According to Cyvers’ initial alert, its monitoring system flagged the unusual activity approximately 30 minutes after transfers began, with attackers quickly consolidating assets into two primary wallets before beginning systematic cryptocurrency swaps for more liquid tokens.
The security firm noted direct communication with BtcTurk’s team that implemented “immediate action” protocols while maintaining that fiat currency operations remained unaffected by the technical disruption.
BtcTurk’s official Turkish-language statement described the...
https://cryptonews.com/news/btcturk-turkeys-second-largest-crypto-exchange-loses-48m-in-major-hack-whats-happening/
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple