BTCTURK, one of Turkey’s largest cryptocurrency exchanges, temporarily suspended the deposits and withdrawals of cryptocurrency after detecting an unusual activity in its hot wallets, potentially involving the flight of around $ 48 million in digital active ingredients. The incident was reported by the cybersecurity company Cyvers, which has identified irregular transactions on several blockchain networks, especially Ethereum (Eth), Avalanche (Avx), arbitrum (arb), base (base), Optimism (Op), the coat (coat) and the polygon (Matic). These transactions, according to Cyvers, indicate a coordinated feat rather than a routine operational activity (1).
According to the exchange, the unusual activity was detected for the first time on August 14, 2025, which prompted BTCTURK to take immediate measures by interrupting withdrawals and deposits as a precautionary measure. The scholarship pointed out that the deposits and withdrawals of negotiation and the fiduciary currency continued to operate normally. BTCURK also confirmed that the majority of its funds are stored in cold portfolios, which are not connected to the Internet and are therefore less vulnerable to piracy attempts. The exchange has assured users that their assets remain secure and are not affected by the incident (1).
Cyvers reported that the striker had moved the stolen funds to two primary addresses and had started to exchange them for Ether (ETH), a trend also confirmed by blockchain analysis platforms such as Lookonchain and Certik. Lookonchain estimated the assets stolen at 23 million dollars, while Certik placed the figure at $ 50 million. The striker has already launched a series of transactions using Ethereum addresses, with some of the most recent Swaps involving Metamask Swaps, according to Etherscan Data (1).
The incident marks a significant setback for BTCTURK, which had already faced a similar violation in June 2024. At that time, the exchange reported unauthorized withdrawals from its hot portfolios, causing losses of around $ 55 million. In response to this breach, the CEO of Binance, Richard Teng, said that the company had frozen more than $ 5.3 million in stolen assets and cooperated with the investigation. The last incident, which occurred a little more than a year after the previous violation, raised concerns about the current vulnerabilities faced by the exchanges of crypto despite increased security measures (1).
This last violation is part of a broader trend in the increase in cyber attacks in the space of cryptocurrencies. According to reports, crypto investors lost $ 3.1 billion against hacks and scams in the first half of 2025 only. The most important of them was the violation of $ 1.46 billion in rival parbit, highlighting the growing risks in the industry. BTCURK would have engaged with blockchain security companies and the police to investigate the incident and alleviate additional losses. The exchange has not yet provided an estimated calendar when the deposit and withdrawal services will resume (1).
Source: (1) BTCTURK interrupts withdrawals in the suspected world of $ 48 million in crypto ((2) Crypto exchange BtCTURK experiences of $ 48 million for … (
