Turkish crypto exchange BtcTurk says it was attacked, some hot wallets compromised – DL News

BtcTurk, a major crypto exchange in Turkey, said it was hacked on Saturday and several of its hot wallets were accessed, with cryptocurrencies stolen from some of them.

“Only a portion of the balances in the hot wallets of 10 cryptocurrencies were affected by the cyberattack in question, and our cold wallets, where most assets are kept, are safe,” the exchange said.

The company added that its financial strength significantly exceeds the amounts raised and that users’ assets would not be affected by the losses.

BtcTurk said the attack was being thoroughly investigated and official authorities had been contacted.

As a precautionary measure, deposits and withdrawals in cryptocurrencies were temporarily suspended and then largely enabled again via the ERC20 network, the exchange said.

Victims of cyber attacks will be gradually reopened once the cyber security teams have completed their work, it said.

In the meantime, Binance CEO Richard Teng said in an X-Post that his company assisted BtcTurk in investigations and froze more than $5.3 million in stolen funds.

He added that Binance’s investigations and security teams are working around the clock as part of their proactive efforts to protect the ecosystem from malicious actors.

According to a recent Triple-A report, Turkey ranks third with a 19.3% share of cryptocurrency ownership, only the United Arab Emirates with 25.3% and Singapore with 24.4% are better.