The crypto exchange BtcTurk was hacked, $54 M stolen

Cryptocurrency experts assess that BtcTurk, a major Turkish exchange, has suffered a staggering loss of $54 M due to a recent hacking incident. 🙀

💣 On June 22, hackers breached BtcTurk's security, gaining access to hot wallets containing various cryptocurrencies. As a precaution, exchange has halted deposits and withdrawals pending a full investigation. 🚫

Fortunately, the majority of assets held in cold wallets remain secure. Notably, Colin Wu reported the unauthorized sale of AVAX tokens totaling $54 M, traced back to the initial hack at BtcTurk. 

📝 Reports from blockchain analyst ZachXBT also indicate losses of at least 1.96 million AVAX ($54.2 M) and subsequent large withdrawals of BTC from Coinbase and Binance.