TLDR:
- BtcTurk faces a $49M crypto hack, affecting Ethereum, Solana, and other major chains.
- Attackers moved funds to two main wallets, then started swapping assets immediately.
- This is BtcTurk’s second major breach; June 2024 saw a $55M loss.
- Withdrawals and deposits suspended as exchange investigates multi-chain cyberattack.
Turkish crypto exchange BtcTurk has suffered another major security breach, with losses estimated at $49 million. Social media reports indicate attackers targeted multiple blockchain networks simultaneously.
The breach was detected by crypto security analysts within minutes of the exploit. Trading and withdrawals on the platform have been paused while the team investigates. Sources point to sophisticated techniques that allowed attackers to access hot wallets containing diverse assets.
According to PeckShieldAlert, the hacker’s wallet included Ethereum, Solana, and other major tokens. This incident follows a similar breach in June 2024, which resulted in $55 million being stolen.
#PeckShieldAlert @btcturk has been hacked, w/ estimated losses of ~$49M https://t.co/VdXFJZKqyS pic.twitter.com/3oCe9Co9dQ
— PeckShieldAlert (@PeckShieldAlert) August 14, 2025
Cybersecurity experts warn the exchange may have ongoing vulnerabilities in its hot wallet security. The timing aligns with a rise in 2025 crypto hacks targeting key exchanges worldwide.
BtcTurk Multi-Chain Attack and Immediate Exchange Response
Cyvers Alerts reported unusual activity across multiple networks including $ETH, $AVAX, $ARB, $BASE, $OP, $MANTLE, and $MATIC. Analysts detected transfers moving into two main addresses, with attackers quickly swapping assets.
The scale and speed suggest a highly coordinated effort. Exchanges are increasingly targeted through leaked keys and smart contract vulnerabilities, raising investor concerns.
🚨ALERT🚨$48M worth of digital assets have been detected in unusual activity across multiple chains involving Turkish exchange @btcturk
About 30 minutes ago, our system detected multiple alerts across $ETH, $AVAX, $ARB, $BASE, $OP, $MANTLE, and $MATIC networks. Most funds were… pic.twitter.com/ss4a7O2hUd
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) August 14, 2025
BtcTurk responded swiftly, suspending all deposits and withdrawals to prevent further losses. The team is collaborating with cybersecurity experts to trace stolen funds. Social media updates indicate continuous monitoring of the hacker wallets.
Market participants are advised to follow official BtcTurk announcements for safety.
The recurring breaches point to a broader issue with exchange security standards. Analysts emphasize the need for stronger hot wallet protocols and multi-layered protection measures.
