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BtcTurk hot wallet breach
Key Points:* BtcTurk detected a $48 million breach in its hot wallet, leading to suspended cryptocurrency transactions.
BtcTurk Faces $48 Million Breach in Hot Wallet
BtcTurk has suspended cryptocurrency deposits and withdrawals following the detection of unusual activity in its hot wallets, revealing an estimated loss of $48 million. The executive team, including CEO Faruk Fatih Özer, took immediate actions to address the breach.
Financial implications are significant, but most customer funds are secure in cold wallets. The affected assets include Ethereum and others across multiple blockchains, with the breach traced back to suspicious transactions flagged by cybersecurity firms like Cyvers.
Security Challenges Persist Amid BtcTurk’s Operational Adjustments
Did you know? BtcTurk’s current breach mirrors a June 2024 incident, where $55 million were lost. Despite executive changes, security challenges have persisted, reflecting a broader industry issue with hot wallet vulnerabilities.
Ethereum’s value stands at $4,569.03 with a market cap of $551.52 billion and a 13.76% market dominance. Despite a 3.13% decline over the past 24 hours, it has seen a 17.09% 7-day increase, according to CoinMarketCap’s latest update on August 15, 2025.
| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |