BtcTurk (cryptocurrency exchange)

History

2025: Hacker attack. $48 million stolen

The largest Turkish cryptocurrency exchange BtcTurk was the victim of a large-scale cyber attack, as a result of which attackers stole digital assets worth about $48 million, which forced the platform to temporarily suspend operations to withdraw funds for users. The incident occurred on August 14, 2025, when a security system detected unusual activity in the hot wallets of the exchange, which led to the immediate introduction of protective measures.

The first suspicious activity was recorded by specialists from Cyvers, which specializes in providing cyber security cryptocurrencies. Experts found operations with digital assets with a total value of almost $48 million, which were carried out through multiple blockchain networks.

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Фото: Freepik

The Cyvers monitoring system has registered numerous alerts on blockchain networks Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle and Polygon. Analysts at the company found that the hacker moved the stolen assets to two different addresses and immediately began exchanging them for other cryptocurrencies.

In response to the detected threat, BtcTurk management promptly suspended all operations to enter and withdraw cryptocurrency funds, officially explaining this as a "technical problem" with hot wallets. At the same time, trading operations and transactions in the Turkish lira continued to function as usual.

Representatives of the exchange in an official statement confirmed that during the scheduled inspections, abnormal activity was detected in the hot wallet system. As a preventive security measure, the platform management decided to temporarily stop operations with cryptocurrencies until the circumstances of the incident are fully clarified.^[1]

Notes