{"id":14595,"date":"2024-06-23T13:26:49","date_gmt":"2024-06-23T10:26:49","guid":{"rendered":"https:\/\/forklog.com\/en\/hackers-breach-turkish-exchange-btcturk-causing-54-million-loss\/"},"modified":"2024-06-23T13:26:49","modified_gmt":"2024-06-23T10:26:49","slug":"hackers-breach-turkish-exchange-btcturk-causing-54-million-loss","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hackers-breach-turkish-exchange-btcturk-causing-54-million-loss\/","title":{"rendered":"Hackers Breach Turkish Exchange BtcTurk, Causing $54 Million Loss"},"content":{"rendered":"<p>On June 22, hackers targeted BtcTurk. The Turkish cryptocurrency exchange <a href=\"https:\/\/status.btcturk.com\">suspended<\/a> deposits and withdrawals pending the investigation of the incident.<\/p>\n<p>According to the platform&#8217;s statement, the perpetrators accessed hot wallets containing 10 different cryptocurrencies. The exchange remains solvent, with cold wallets holding the majority of assets securely.<\/p>\n<p>Chinese journalist Colin Wu reported the sale of Avalanche (AVAX) tokens worth $54 million. Previously, researcher VeriDelisi identified the address from which the assets were initially transferred as belonging to BtcTurk.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Today, 54 million USD of AVAX was sold. The AVAX at 0x32\u20264f30 originated from the transfer of X-avax1qsnptt6yxnwmh8up7xn5u3sajz37lmyv8u3dmu on the Avalanche-X chain. <a href=\"https:\/\/twitter.com\/VeriDelisi?ref_src=twsrc%5Etfw\">@VeriDelisi<\/a> believes that this address is the address of a Turkish exchange. <a href=\"https:\/\/t.co\/9vlyQuMXXy\">https:\/\/t.co\/9vlyQuMXXy<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1804499362611163646?ref_src=twsrc%5Etfw\">June 22, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to on-chain investigator ZachXBT, losses amounted to at least 1.96 million AVAX ($54.2 million).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Just shared on Telegram that this entity withdrew $46M+ worth of BTC from Coinbase\/Binance after those AVAX deposits<a href=\"https:\/\/t.co\/aONZbESvre\">https:\/\/t.co\/aONZbESvre<\/a><\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1804477409179361679?ref_src=twsrc%5Etfw\">June 22, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He recorded the withdrawal of 587.75 BTC ($38.1 million) from Coinbase and 122.66 BTC ($7.95 million) from Binance shortly after AVAX deposits to cryptocurrency exchanges.<\/p>\n<p>ZachXBT also reported a probable hack of the online casino Sportsbet amounting to over $3.5 million by the same hacker, as funds from these attacks were mixed.<\/p>\n<p><script async src=\"https:\/\/telegram.org\/js\/telegram-widget.js?22\" data-telegram-post=\"investigations\/136\" data-width=\"100%\"><\/script><\/p>\n<p>Binance CEO Richard Teng announced the freezing of $5.3 million in stolen funds and assistance to BtcTurk in the investigation.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance is assisting BtcTurk with investigations and have frozen over $5.3M in stolen funds so far. <\/p>\n<p>Our investigations &#038; security teams work around the clock as part of our proactive efforts to protect the ecosystem from bad actors. We will provide further updates as relevant. <a href=\"https:\/\/t.co\/8j6uMgOPm6\">https:\/\/t.co\/8j6uMgOPm6<\/a><\/p>\n<p>\u2014 Richard Teng (@_RichardTeng) <a href=\"https:\/\/twitter.com\/_RichardTeng\/status\/1804525525614096511?ref_src=twsrc%5Etfw\">June 22, 2024<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Following the breach, AVAX&#8217;s price fell by 10%, from $27.2 to $24.5. At the time of writing, the coin had recovered to $25.7.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-1024x640.png\" alt=\"Snimok-ekrana-2024-06-23-v-13.03.10\" class=\"wp-image-235419\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-1024x640.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-300x188.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-768x480.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-1536x960.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2024-06-23-v-13.03.10-2048x1280.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly chart of AVAX\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/AVAXUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Previously, bug hunters withdrew $3 million from the cryptocurrency exchange Kraken due to an &#8220;extremely critical&#8221; vulnerability. Blockchain security firm CertiK revealed involvement in a &#8220;white&#8221; hack.<\/p>\n<p>Earlier in June, the British cryptocurrency exchange Lykke ceased all operations due to a &#8220;security incident&#8221; that led to a $22 million loss.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 22, hackers targeted BtcTurk. The Turkish cryptocurrency exchange suspended deposits and withdrawals pending the investigation of the incident. According to the platform&#8217;s statement, the perpetrators accessed hot wallets containing 10 different cryptocurrencies. The exchange remains solvent, with cold wallets holding the majority of assets securely. Chinese journalist Colin Wu reported the sale of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,44,920],"class_list":["post-14595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cybercrime","tag-turkey"],"aioseo_notices":[],"amp_enabled":true,"views":"60","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14595"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14595\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14594"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}