Crypto exchange BtcTurk has halted withdrawals after irregularities were detected, potentially resulting in a loss of up to $50 million. Blockchain monitoring platforms first flagged activity indicating the transfer of around $48 million in tokens across multiple networks like Ethereum, Avalanche, and Polygon. Analysts suggest these funds were diverted to a small number of wallets before being swapped into other cryptocurrencies. The company confirmed detecting suspicious activity on August 14th, prompting them to freeze affected services while investigations are underway. Trading and fiat transactions remain accessible with BtcTurk emphasizing that the majority of client assets remain in offline cold storage, not impacted by the breach. Officials have been notified, and security protocols are being strengthened further. Loss estimates vary, with Lookonchain reporting around $23 million, while CertiK believes it could exceed $50 million. The stolen crypto is being actively converted into Ether, and both Ethereum and Solana addresses have been linked to the movements.