A Turkish cryptocurrency exchange, BtcTurk, has been subjected to a significant security breach resulting in the theft of an estimated $48 million. The perpetrators allegedly moved funds from the exchange’s hot wallet to two newly created addresses. Multiple blockchain networks, including Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle Network and Polygon, have seen unusual fund transfers associated with this event. In response, BtcTurk has temporarily suspended both deposits and withdrawals. 🚨ALERT🚨 A total of $48 million worth of crypto assets were flagged on multiple chains involving the Turkish exchange @btcturk.
Our system detected alerts across various chains including ETH, AVAX, ARB, BASE, OP, MANTLE, and MATIC networks around 30 minutes ago. Most funds have been transferred and converted to new addresses as per our monitoring. BtcTurk has reached out to the exchange team who are taking immediate action. Withdrawals and deposits are currently suspended.
Despite the magnitude of the hack, no official statements from the exchange have been released yet. CoinMarketCap data reveals a 24-hour trading volume of $312 million for BtcTurk with hundreds of assets listed for spot and perpetual trading.
This situation is still unfolding, and updates will be provided as more information becomes available.