BtcTurk suspends withdrawals after suspicion of being hacked for 48 million dollars

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The Turkish cryptocurrency exchange BtcTurk has temporarily suspended withdrawals amid reports that the platform may have lost a large amount of assets due to a cyber attack.

The cybersecurity company Cyvers reported on Thursday that it had detected unusual activity related to digital assets worth 48 million USD, including Ether (ETH), along with the AVAX, ARB, BASE, OP, MANTLE, and MATIC networks. According to Cyvers, the attacker transferred the assets to two addresses and began swapping them.

BtcTurk then announced a temporary suspension of cryptocurrency deposits and withdrawals, citing "technical issues" with the hot wallet, while domestic currency trading and deposits and withdrawals continued normally. The exchange asserted that the majority of assets are safely stored in cold wallets and are unaffected.

According to Lookonchain, the attacker has begun to swap the stolen assets for Ether. Estimated losses range from 23 million to at least 50 million USD, depending on the source of analysis. The assets withdrawn are spread across three wallets, including two Ethereum addresses and one Solana address.

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