BtcTurk, A Turkish crypto exchange, has been reportedly hacked for $48 million in a latest security exploit. The attackers have allegedly moved funds from the exchange’s hot wallet to two new separate addresses.
According to a latest post by Cyvers Alerts, BtcTurk has been involved with unusual fund transfer activities across multiple blockchain networks, including Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle Network and Polygon. The exchange has currently suspended deposits and withdrawals in response to the exploit.
“The attacker has completed the transfers and begun swapping assets,” noted the Cyvers team. “We’ve contacted the team, who are taking immediate action. Withdrawals and deposits are currently suspended.”
Despite the scale of the attack being huge, there are no official statements from the exchange yet.
CoinMarketCap data shows that the BtcTurk had a 24 hour trading volume of $312 million and it has hundreds of assets listed for spot as well as perpetuals trading.
This is a developing story, and updates will be provided as the incident unfolds.
Also read: Radiant Capital Hacker Turns $53M Theft into $102M Crypto Fortune
