Turkish crypto exchange BtcTurk has been targeted by a major cyberattack, which resulted in the theft of roughly $48 million in digital assets.
Most of the assets were transferred to just two addresses, where the attacker has reportedly begun swapping them.
According to the firm:
“During checks conducted on August 14, 2025, unusual activity was detected in our hot wallets. As a precaution, cryptocurrency deposit and withdrawal transactions have been temporarily suspended. These services will be reactivated once the work is completed.”
The company assured users that most assets remain safely stored in cold wallets and that the incident will not impact customer holdings. It added that trading operations and Turkish Lira transactions are continuing normally.
BtcTurk furthered that the authorities have been notified and are coordinating closely with cybersecurity teams to secure its infrastructure.
At that time, the exchange clarified that only a portion of ten cryptocurrencies in hot wallets were affected, while cold wallet holdings remained untouched.
This latest BtcTurk hacking incident adds to the growing list of attacks centralized crypto trading platforms have experienced this year.
