BigONE Exchange Hacked via Supply Chain Attack—$27M Drained from Hot Wallets

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Crypto exchange BigONE suffered a $27 million exploit after hackers executed a supply chain attack, bypassing security measures without directly compromising private keys.

In a Wednesday announcement, BigONE revealed that abnormal transactions were detected on July 16, leading to losses of 120 BTC, 350 ETH, 1,800 SOL, and 8.54M USDT, plus other altcoins.

Security analysts at SlowMist explained that attackers modified the exchange’s server logic to enable unauthorized withdrawals. Unlike typical private key breaches, this attack exploited system vulnerabilities rather than direct wallet access.

Supply chain attacks involve injecting malicious code into a platform’s infrastructure—a growing threat in DeFi and centralized exchanges alike. BigONE has not yet detailed recovery efforts.