Turkish cryptocurrency exchange BtcTurk paused its blue-chip cryptocurrency withdrawals, saying it noticed technical issues, later claimed by cybersecurity firm Cyvers to be a possible hack, in which the attacker shifted various cryptocurrencies such as ETH, AVAX, ARB, BASE, OP, MANTLE, and MATIC to two addresses, as per a Cointelegraph report.
BtcTurk said in its X post that it discovered unusual activity in the hot wallets section of its exchange and it suspended the feature as a precautionary measure. The company clarified that it stores the vast majority of its assets in cold wallets, which meant that user assets could be considered secure.
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Cryptocurrency hacks are a common occurrence in the digital assets sector with some of the biggest hacks happening to Bybit, Mt Gox, FTX, and KuCoin.
BtcTurk suffered a breach previously as well, disclosing unauthorized withdrawals in June 2024, creating a loss of approximately $55 million.