BtcTurk, one of Turkey's largest cryptocurrency exchanges, suffered a major cyber attack on June 22, 2024. In the attack, a significant amount of cryptocurrency was stolen from the company's hot wallets. Following the incident, BtcTurk temporarily suspended all activities on the platform by stopping cryptocurrency deposits and withdrawals. While investigation and recovery efforts continue, it is estimated that the amount of stolen cryptocurrency reaches millions of dollars. This situation once again brought to the fore the risks of cryptocurrency investments and the cyber security vulnerabilities of the platforms.
New Statement from BtcTurk: Transactions Are Active Again
BtcTurk stopped transactions on the platform after the cyber attack on June 22, 2024. In the statement made in the morning, it was reported that cryptocurrency transactions on the ERC20 network were reactivated. The company said, "Deposit and withdrawal transactions of all ERC20 cryptos from the ERC20 network have been opened. Transactions of other cryptos will be opened gradually as the detailed work of our cyber security teams is completed."
Support from Binance
BtcTurk announced the number of coins affected by the attack as 10. Although the amount of stolen coins is not officially stated, Binance CEO Richard Teng stated in a statement on Twitter that they have helped BtcTurk and frozen approximately $5.3 million of the stolen funds so far. BtcTurk created a Security Fund against possible attacks, and the company's partners transferred resources from their assets to cover losses from this fund.
This cyber attack has revived concerns about the security of cryptocurrency exchanges. BtcTurk announced that they are investigating the cause of the attack and will initiate the necessary legal proceedings. The company advises affected users to check their accounts and report any unauthorized transactions immediately if they notice them. Additionally, users are advised to take additional security measures such as two-factor authentication to increase the security of their accounts.
BtcTurk cyber attack is an important lesson for Bitcoin and altcoin investors. This incident reveals the extent of cyber threats facing the cryptocurrency ecosystem. Investors should take the necessary precautions to store their assets safely and meticulously investigate the security of the platforms on which they invest.
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