Key Notes
- BigONE lost $27 million to hackers.
- On-chain sleuth accused the exchange of processing “pig butchering, romance, investment scams”.
- BigONE’s daily trading volume plunged by 38%.
BigONE, one of the Seychelles-based crypto exchanges, is the latest Web3 platform to suffer significant losses due to a hack on June 16.
On-chain data shows that BigONE has lost roughly $27 million in the latest hack. Stolen Bitcoin
BTC
$118 131
24h volatility:
1.1%
Market cap:
$2.35 T
Vol. 24h:
$79.77 B
from the exchange is worth over $14 million, followed by USDT on TRON and Ethereum, each worth $7 million and $4 million.
All the funds are currently sitting in newly created wallets.
While the main reason behind the exploit hasn’t been announced yet, BigONE promised its users to “fully cover all losses” and has been working on a system recovery.
The Seychelles-based exchange, founded in 2017, also recorded a 38.6% decline in its daily trading volume, reaching $684 million, according to data from CoinGecko.
BigONE has listed 181 tokens with 698 trading pairs since its establishment.
Despite suffering massive losses, on-chain sleuth ZachXBT claimed that “this CEX processed a good bit of volume from pig butchering, romance, investment scams,” and he doesn’t feel bad for its team.
hot take: if more sketchy offshore exchanges get hacked for large sums it would be beneficial for the industry (MEXC, Kucoin, etc) bc it would be a natural cleanse without government overreach
— ZachXBT (@zachxbt) July 16, 2025
ZachXBT even added other names like MEXC and Kucoin as “sketchy offshore exchanges.” He says that if these exchanges “get hacked for large sums, it would be beneficial for the industry, calling the process a “natural cleanse without government overreach.”
According to a Coinspeaker report, the crypto industry has lost $2.1 billion to hackers within the first half of 2025.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
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