BigONE Crypto Exchange Suffers $27 Million Security Breach but Commits to Cover Losses

Recently, BigONE cryptocurrency exchange faced a severe security breach leading to the theft of approximately $27 million worth of digital assets, including popular cryptocurrencies such as Bitcoin, Ethereum, USDT, SOL, and XIN. The attack specifically targeted the exchange's hot wallet, which is typically connected to the internet and used for day-to-day operations.

In response to the hack, BigONE has assured its users that it will cover all losses in full by utilizing internal reserves and borrowed funds. To protect its customers and system integrity, the exchange has temporarily suspended deposits and trading activities. Withdrawals are also on hold while the platform strengthens its security infrastructure to prevent future incidents.

This incident highlights the critical importance of security in the crypto trading space. For users looking for safer and more flexible ways to invest in cryptocurrencies, platforms like Bitlet.app offer an innovative solution. Bitlet.app provides a Crypto Installment service, allowing investors to buy cryptos immediately and pay over time with monthly installments rather than paying the full amount upfront. This approach can reduce exposure while still enabling participation in the crypto market.

As the industry continues to evolve, choosing exchanges and services with robust security measures and user-friendly options like those of Bitlet.app becomes essential for secure and accessible crypto investment.