cryptohack

Here’s the latest verified update on the BtcTurk exchange hack and what’s known so far:
CryptoRank
Binance
Hackers pitch tent in Turkey, stealing $48 million from BtcTurk exchange
Another Blow to Turkey’s Crypto Market: Hackers Drain $48M from BtcTurk. Insider Weakness Suspected
Yesterday
Yesterday
🧠 What Happened
Turkish cryptocurrency exchange BtcTurk was hacked, with attackers draining **about $48 million worth of crypto from its hot wallets. �
Cryptopolitan +1
Blockchain security firms and on-chain monitoring flagged unusual outflows across multiple blockchains such as Ethereum, Arbitrum, and Polygon. �
Coindesk
The total loss is widely reported around $48 million (some reports note slight variances). �
Cryptonews
🚨 Exchange Response
BtcTurk temporarily halted deposits and withdrawals as a precaution while it investigates the breach. �
Cryptopolitan
The company says most customer assets were stored offline in cold wallets, and those remain safe. �
Cryptopolitan
Trading and fiat lira deposits/withdrawals reportedly continued during the investigation. �
Cryptonews
🧩 Scope & Method
The attackers appear to have gained unauthorized access to BtcTurk’s hot wallets (connected to the internet), letting them move funds across several blockchain networks. �
Coindesk
Stolen assets were consolidated into just a few recipient addresses by the hackers. �
Cryptonews
🔍 Context & Broader Implications
This incident follows previous security problems at BtcTurk and adds to ongoing concerns about exchange hot wallet vulnerabilities in the crypto sector. �
Binance
Security experts emphasize that hot wallets—unlike cold storage—are more at risk if private keys are compromised.
🛡 How This Affects Users
If you have funds on BtcTurk, check official communications from the platform for updates on withdrawal resumption and potential compensation plans.
Be cautious of scams or phishing attempts claiming to help “recover” lost funds—hack incidents often trigger such schemes.
$BTC
$ETH
#BtcTurk #CryptoHack #ExchangeHack

Turkey's crypto scene has been rocked again. The country’s largest exchange, BtcTurk, has confirmed a sophisticated hack that resulted in the loss of approximately $48 million from its hot wallets. The incident is especially alarming as it marks the third such breach in just two years.
🔹 The attack spanned multiple blockchains — according to blockchain security firm AnChain, the hackers moved funds via Ethereum, Arbitrum, and Polygon. The stolen assets were ultimately consolidated into a single address, where they were laundered through subsequent transactions.
🔹 BtcTurk claims the situation is under control, reassuring users that the majority of funds remain safe in cold wallets. Nonetheless, the exchange temporarily suspended withdrawals and launched an internal investigation alongside technical audits.

A Repeating Pattern: Not the First Breach
This incident follows a troubling series of similar attacks:
August 2025: BtcTurk confirmed a loss of $38 million and claimed that “all necessary security measures” had been implemented.June 2024: A sudden disappearance of $55 million was later attributed by auditing firm Halborn to a likely compromised private key.
During the August 2025 breach, the exchange stated: “Unusual movements were detected in our hot wallets during checks conducted on August 14. As a precaution, deposits and withdrawals were temporarily suspended.”

Despite such claims, history is repeating itself.

Warning: Phishing and Secondary Scams Loom
According to AnChain, such hacks often pave the way for secondary scams, where bad actors exploit user panic. Impersonating the exchange's support teams, scammers may send fake emails or SMS messages, tricking users into linking their wallets to phishing platforms disguised as refund verification services — draining even more funds.

Crypto in Turkey: Massive Volumes, Fragile Security
Despite repeated attacks, Turkey remains a crypto powerhouse:
🔹 As of October 2025, daily crypto trading volume hit $300 million, with 75% denominated in Turkish lira

🔹 Annual crypto transaction volume reached $200 billion, four times that of the UAE, the second-largest market in the region

🔹 Between 2021 and mid-2025, Turkey saw a cumulative $878 billion in gross crypto inflows
Meanwhile, Turkey’s national statistics office reported that inflation reached 30.89% in 2025, with food prices up 28.31% and transportation costs rising 28.44%, driven by soaring fuel and operational expenses.
In such an environment, it’s clear why citizens turn to crypto — but this also makes them highly vulnerable to fraud, manipulation, and cyberattacks.

#CryptoHack , #Cryptoscam , #cyberattack , #CryptoMarket , #DigitalAssets

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$FLOW
Flow ($FLOW ) has capitulated, crashing 42% in a horrific sell-off following a confirmed "security incident". Major exchanges like Upbit and Bithumb immediately suspended deposits and withdrawals, trapping liquidity and causing panic.

The Flow Foundation is investigating Transaction Ingestion failures and potential exploits in the execution layer. Attackers may have exploited a vulnerability to mint or drain funds, prompting a potential "rollback" of the chain. A rollback would undo trades to erase the hacker's gains, but it is a nuclear option that destroys trust in finality.

If Flow rolls back, it signals the chain is centralized and mutable. This could permanently damage its reputation among institutional partners like Disney and NBA Top Shot who rely on stability. Validators are already furious, arguing a rollback creates "unbacked assets" for honest users.

Will the validators agree to the hard fork for a rollback? When exchanges re-open, a second wave of dumping from trapped users is likely.
This crisis pits the "Code is Law" ethos against the necessity of a bailout to save the ecosystem.

Should a blockchain EVER roll back transactions to fix a hack?

#FLOW #CryptoHack #BlockchainSecurity #Upbit

ResupplyFi lost $5.59M in a crypto hack on June 26, 2025.
Attacker manipulated cvcrvUSD exchange rate via contract donations.Low-liquidity markets enabled theft with minimal collateral.DeFi platforms urged to enhance smart contract security.Industry calls for better oracles and liquidity management.
$5.59M Stolen in ResupplyFi Attack
A crypto hack targeting ResupplyFi resulted in a loss of approximately $5.59 million. The breach, detected on June 26, 2025, involved suspicious transactions that exploited vulnerabilities in the platform’s smart contracts. Attackers manipulated the exchange rate of cvcrvUSD, leading to the theft of a significant amount of reUSD tokens.
The attack centered on the cvcrvUSD Controller contract. By making strategic donations, the attacker artificially inflated the token’s share price. This allowed them to borrow a large volume of reUSD tokens with minimal collateral, draining substantial assets from the protocol.
ResupplyFi, a decentralized finance platform, relies on low-liquidity markets for certain token pairs. The attacker exploited this, using just two crvUSD tokens to borrow millions in reUSD. Such vulnerabilities highlight ongoing risks in DeFi ecosystems, where low-liquidity pools can be prime targets for manipulation.

Security systems flagged the suspicious activity early, but the attacker’s swift execution caused significant damage before interventions could be implemented. The incident underscores the need for robust safeguards in decentralized lending protocols.
DeFi Security Under Scrutiny
The ResupplyFi crypto hack has reignited discussions about DeFi vulnerabilities. Exchange rate manipulation in low-liquidity markets remains a persistent threat. Attackers exploit empty or thinly traded pools to distort prices, enabling large-scale theft with minimal initial investment.
This incident follows a pattern seen in other DeFi exploits. Similar attacks have targeted lending protocols by inflating share prices through strategic donations or flash loans. The ResupplyFi breach involved a donation to the cvcrvUSD Controller, which skewed the token’s value and allowed the attacker to siphon off funds.
Decentralized finance platforms face increasing pressure to enhance security measures. Smart contract audits and real-time monitoring are critical to detecting and preventing such exploits. The ResupplyFi hack serves as a reminder of the importance of rigorous validation of mathematical functions in smart contracts.
Industry experts emphasize the need for improved oracle mechanisms to ensure accurate pricing data. Protocols like Chainlink provide decentralized price feeds to mitigate manipulation risks, but adoption remains inconsistent across DeFi platforms. Enhanced liquidity management and stricter access controls could also reduce vulnerabilities.
The ResupplyFi incident has prompted calls for greater transparency in DeFi operations. Platforms are urged to disclose security measures and undergo regular third-party audits. Strengthening these defenses is essential to maintaining user trust in decentralized finance.
The broader crypto community is now analyzing the attack’s fallout. Blockchain security firm SlowMist reported the breach through its MistEye monitoring system, highlighting the stolen funds’ movement. Such tools are vital for tracking illicit transactions and aiding recovery efforts.
ResupplyFi has not yet announced specific recovery plans or user compensation. The platform’s team is likely investigating the breach to prevent future incidents. Meanwhile, affected users await updates on potential restitution measures.
The hack’s scale underscores the growing sophistication of cybercriminals targeting DeFi. As the sector expands, so does the need for advanced security frameworks. Platforms must prioritize resilience against manipulation tactics to protect user funds.
This breach adds to a string of high-profile DeFi attacks in 2025, raising concerns about the sector’s maturity. Investors and developers alike are calling for standardized security protocols to safeguard the ecosystem. For more insights into DeFi security, resources like Cointelegraph and The Block offer in-depth coverage of blockchain vulnerabilities and solutions.

#CryptoHack #ResupplyFi #DeFiSecurity #BlockchainVulnerability #SmartContractExploit