tl;dr
Turkish crypto exchange BtcTurk suffered a major cyberattack stealing about $48 million in digital assets, mostly moved across multiple blockchain networks and consolidated into two addresses. The breach affected only hot wallets, leading BtcTurk to temporarily suspend crypto deposits and withdrawal...
Turkish crypto exchange BtcTurk has been hit by a significant cyberattack resulting in the theft of approximately $48 million in digital assets. According to blockchain security firm Cyvers, the stolen funds were moved across multiple blockchain networks including Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon. Most of these assets were consolidated into just two addresses, with the attacker reportedly starting to swap them.
BtcTurk confirmed the breach in a public statement, clarifying that only hot wallets were affected. The exchange, one of the largest in Turkey with over five million users, temporarily suspended cryptocurrency deposit and withdrawal functions as a precaution after detecting unusual activity on August 14, 2025. The company reassured users that the majority of funds remain secure in cold wallets, emphasizing that customer holdings will not be impacted. Meanwhile, trading operations and Turkish Lira transactions continue without interruption.
The exchange has alerted authorities and is collaborating intensively with cybersecurity teams to safeguard its infrastructure. This latest attack echoes a similar cyber incident about a year ago, when BtcTurk’s hot wallets were compromised, resulting in losses exceeding $55 million. At that time, the exchange reported that only a fraction of ten cryptocurrencies held in hot wallets were affected, while cold wallet reserves were untouched.
This breach adds to a growing trend of centralized crypto exchanges facing high-profile security attacks in 2025. Earlier this year, Bybit suffered a massive hack that saw roughly $1.5 billion in Ethereum tokens stolen. Similar incidents include India-based CoinDCX losing over $44 million, illustrating the increasing vulnerability of major crypto trading platforms.