The Turkish cryptocurrency exchange BtcTurk has temporarily restricted deposits and withdrawals of digital assets due to a suspected hacking attack that resulted in the theft of $48 million in crypto assets. However, trading and transactions with the Turkish lira on the platform continue as usual.
This is reported by Finway
Details of the Attack and Actions of the Perpetrators
The analytical company Cyvers reported suspicious transactions amounting to $48 million that were conducted from BtcTurk accounts involving various digital assets. The transfers occurred through blockchains such as Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon. According to experts, the funds were withdrawn to two wallets and then exchanged on other platforms.
“About 30 minutes ago, our system detected numerous alerts in the $ETH, $AVAX, $ARB, $BASE, $OP, $MANTLE, and $MATIC networks. Most of the funds were…”
Exchange’s Response and Asset Security
In its official statement, BtcTurk confirmed that unusual activity was detected on the exchange’s hot wallets on August 14, 2025. As a precautionary measure, the company suspended cryptocurrency deposits and withdrawals. The exchange administration emphasized that the majority of customer assets are stored in cold wallets that are isolated from the network, ensuring that users’ funds remain secure.
The BtcTurk team is currently conducting an internal investigation into the incident and cooperating with law enforcement to establish all the circumstances of the attack.
It is worth noting that over the past year, hacker groups, including Embargo, have already stolen large sums of cryptocurrency, indicating a rise in cyber threats in the digital asset space.