BigONE Hack 2025: Security Incident & Ongoing Response

July 16, 2025

4 min read

On July 16, 2025, the BigONE crypto exchange disclosed a significant security incident involving a breach of its warm wallet system. The team reported:

Unauthorised withdrawal of funds from internal warm wallets.
Flexible response measures, including temporary halting of certain operations and asset transfers to secure cold storage.
Ongoing forensic investigation, with external cybersecurity experts collaborating closely.
Enhanced internal controls: tightening approval workflows, increasing withdrawal delays, and boosting multi-signature & cold wallet holdings.

BigONE reassured users that most funds remain secure and that the incident was contained quickly. They committed to full transparency and restitution per investigation results. ()

Timeline of the BigONE Exploit

Date	Event
July 16, 2025	Breach identified; BigONE issues public security incident disclosure.
Immediately after	Operations in warm wallets suspended; funds moved to cold storage.
Ongoing	Collaboration with cybersecurity firms and law enforcement initiated.
Post-incident	Rollout of improved wallet management, stricter withdrawal protocols, and enhanced monitoring systems.

Why This Matters to Users affected by BigONE Hack

Risk of lost assets: Warm wallets are more vulnerable than cold wallets, which are offline.
Evolving cryptocurrency threats: 2025 has already seen major hacks, including a $1.5 B loss at Bybit—emphasizing the need for elevated CEX security.
Trust erosion: Even robust platforms face reputational damage unless they follow through on restitution and transparency.

BigONE’s Strengths & Weaknesses in Security

Strengths

Existing bug bounty program and third‑party audits via platforms like HackenProof and CertiK.
Previously strong security posture: rated BBB by CertiK with regular penetration tests and cold wallet usage.

Weaknesses Highlighted by Hack

Exposure of warm wallets without full multi-signature mechanisms.
A possible delay in incident detection, prompting the need for real-time monitoring.

What Users Should Do Now

Stay updated via BigONE’s official channels (website, Help Center, official app).
Monitor your account, especially any unusual activity during withdrawal freeze periods.
Check cold storage allocations and ask for proof-of-reserves from the team.
Reconsider storing large balances on CEXs; consider dividing funds or using trusted hardware wallets.

FailSafe’s Role: A Cautionary Perspective

FailSafe offers end-to-end audit and monitoring—from pre-deployment security reviews to live‑tracking in case of hacks. Had these controls been fully implemented earlier, the incident at BigONE could have been detected faster or even prevented.

Frequently Asked Questions

How much money was lost?

BigONE hasn’t provided exact figures. They confirmed that most user funds are safe and pledge full disclosure once investigations conclude.

Will affected users get reimbursed?

Yes. BigONE confirmed it will fully compensate users’ losses, though timing depends on external audit outcomes.

Should I continue using BigONE?

That depends on your risk tolerance. The exchange is improving its systems, but if you’re cautious, consider moving more assets to hardware wallets or exchanges with proven multi-signature systems.

How can I verify if my funds are safe?

Watch for updates from BigONE about cold wallet storage and proof-of-reserves. You can also request your transaction logs on the platform.

What security features are being enhanced?

BigONE is tightening multi-signature cold wallet use, extending withdrawal delays, and implementing real-time monitoring and anomaly detection.