Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key

BigONE Exchange confirms a $27 million crypto theft through backend server manipulation. No private keys were leaked during the breach; security reserves will cover user losses. SlowMist and PeckShield are assisting in tracking stolen funds and monitoring wallets. The global crypto exchange BigONE reported a $27 million loss on July 16 after a targeted supply chain attack compromised its hot wallet systems. The exchange has assured its users that all stolen assets will be reimbursed and confirmed that the breach occurred without any private keys being leaked. How the Attack Bypassed Security The incident occurred in the early hours of today, July 16, when BigONE’s security team noticed unusual transactions involving platform assets. Upon investigation, the team confirmed that the breach stemmed from a third-party supply chain vulnerability. The attacker gained access to the exchange’s production environment and manipulated the server-side logic that is responsible for user accounts and risk control. By changing how these backend systems operated, the attacker was able to authorize withdrawals and transfer funds without triggering the normal inter… The post Hackers Steal $27 Million from BigONE Exchange Without Ever Touching a Private Key appeared first on Coin Edition .

Source: Coin Edition