BigONE Loses $27 Million in Hack Amid Accusations of Hosting Scam Activity

Crypto exchange BigONE has been hacked, but not everyone is sympathetic about the incident as the platform is linked to past controversies.

Nevertheless, the incident adds to the list of attacks in the crypto market, highlighting the need for caution and enhanced security.

BigONE Hacked for $27 Million, ZachXBT Alleges Scam Ties

Crypto exchange BigONE has been hacked, with over $27 million in digital assets stolen and swapped into Bitcoin (BTC), Ethereum (ETH), TRON (TRX), and Solana (SOL), according to on-chain tracker Lookonchain.

The hacker’s wallets currently hold 120 BTC ($14.15 million), 23.3 million TRX ($7 million), 1,272 ETH ($4 million), and 2,625 SOL ($428,000).

In the minutes leading up to this confirmation, the security team from Certik Alerts flagged large token outflows from BigONE. According to the team, the bad actor now holds approximately $4 million worth of ETH as of two hours ago.

While the incident marks another high-profile centralized exchange exploit, it has also stirred controversy. Renowned blockchain investigator ZachXBT claimed BigONE previously processed significant volume tied to pig butchering, romance, and investment scams.

“I do not feel bad for the team as this CEX processed a good bit of volume from pig butchering, romance, investment scams,” the blockchain sleuth stated.

The hack adds to a growing wave of exchange security breaches and raises new questions about platform integrity.

BigONE has yet to release an official statement. Investigators continue to track the stolen assets as the attacker attempts to move them across chains and exchanges.

The post BigONE Loses $27 Million in Hack Amid Accusations of Hosting Scam Activity appeared first on BeInCrypto.