BigONE Exchange Suffers $27M Breach, Taps Emergency Crypto Reserves to Shield Users

Crypto exchange BigONE confirmed on July 16 that it suffered a major security breach resulting in the theft of approximately $27 million in digital assets. The attack, which exploited vulnerabilities in a third-party supply chain component, bypassed standard protective mechanisms by manipulating core server logic tied to account and risk control functions.

Blockchain security firm SlowMist, which is assisting in the investigation, reported that attackers managed to penetrate BigONE’s production environment, allowing them to trigger unauthorized wallet withdrawals directly from user accounts.

Despite the breach’s scale, BigONE emphasized that no private keys were compromised and assured users that their funds would be fully restored. To uphold this commitment, the platform has activated emergency internal reserves and is tapping into external liquidity support to cover losses and stabilize operations.

The compromised digital assets include 120 BTC, 350 ETH, 8.5 million USDT (spread across multiple chains), 4.3 million SNT, 15.7 million CELR, 25,487 UNI, 1,800 SOL, 9.7 billion SHIB, and over 20,000 XIN tokens, among others.

To address the crisis, BigONE has mobilized reserves across multiple major cryptocurrencies, including Bitcoin, Ethereum, USDT, Solana, and its native token XIN. For more illiquid assets, the exchange is sourcing funds via external borrowing mechanisms. While trading and deposits are set to resume within hours, withdrawal services will remain temporarily suspended pending implementation of upgraded security protocols.

The company has pledged to maintain transparency throughout the process, issuing real-time updates and working with blockchain forensic teams to track the attacker’s wallet movements across the network.

“This incident is a harsh reminder of the evolving threat landscape in the digital asset industry,” BigONE stated in an official release. “We extend our deepest apologies to users and reaffirm our commitment to security and trust.”

The breach adds to what has already been a devastating year for crypto security. According to data from TRM Labs, over $2.1 billion has been stolen from digital platforms in 2025, with most attacks stemming from private key leaks or supply chain compromises.

As exchanges strengthen their infrastructure and response protocols, BigONE’s swift mobilization of reserves may serve as a case study in crisis management. But the incident also underscores the persistent vulnerabilities in crypto ecosystems and the importance of supply chain integrity in digital finance.