$27M Hack Hits BigONE Exchange, Hacker Swaps Assets Across Chains

The BigONE exchange experienced a $27 million hack where attackers stole and moved assets across multiple blockchains including Bitcoin, Tron, Ethereum, and Solana. The exchange detected unusual activity and halted deposits but the hackers had already accessed hot wallets. The stolen funds were then fragmented and moved through bridges, decentralized exchanges, and privacy coins to obscure their origin. BigONE has promised to fully reimburse users affected by the hack using insurance reserves and is conducting security upgrades and audits. Regulatory agencies are investigating the incident, raising concerns about security risks associated with hot wallets and the need for improved safeguards within the crypto industry.