BigONE Rocked by $27M Supply Chain Attack: Hackers Exploit Network, Withdraw Funds

Holy smokes! BigONE just got slammed with a brutal supply chain attack, leaving them bleeding over $27 million! The attackers managed to pull off this heist by exploiting a network vulnerability and walking away with the cash.

On July 16, this crypto exchange was hit hard by a third-party attack aimed straight at their hot wallet. The team's now teaming up with the on-chain security gurus at SlowMist to dig into this exploit. The report's clear: BigONE's production network was totally compromised, leading to that whopping $27 million loss.

SlowMist's on the case, tracking down the hacker's addresses, which span across Ethereum, BSC, Solana, Bitcoin, and Tron. They're hot on the trail of the stolen funds, keeping BigONE in the loop about every move.

🚨SlowMist TI Alert🚨

The exchange BigONE was hit with a supply chain attack, losing over $27 million! Their production network was breached, and the logic controlling account and risk servers got twisted, letting the attacker siphon out funds... pic.twitter.com/GkxlNIUs6A

BigONE's not taking this lying down. They've fired up their internal security reserves to shield user funds from more attacks and keep the liquidity flowing. They're standing firm, saying all private keys are safe and the breach has been plugged.

"For other affected tokens, mainstream or not, we're hustling to secure external liquidity through borrowing to get our platform wallet back on track ASAP," BigONE declared in their statement.

How Did BigONE Get Hit?

According to the report, the attacker wormed their way into BigONE’s production network, hitting the live servers in charge of account management and risk controls. They twisted the "operating logic" of these servers, messing with what withdrawals were legit and which ones weren't.

So, the attacker didn't even need to swipe the private keys. All they did was tweak the logic servers to rubber-stamp withdrawals, letting the bad guys sneak in and snatch the funds right out from under BigONE's nose.

Once they caught wind of the exploit, BigONE slammed the brakes on deposits and withdrawals to stop any more funds from slipping away. But they're not down for the count; they promised to crank services back up within hours after beefing up security.

"We're hustling to secure external liquidity through borrowing to get our platform wallet back on track ASAP," BigONE reiterated.