Hacked Once more? BtcTurk Suspends Withdrawals After $49 Million in Suspicious Transfers – Decrypt

Turkish crypto alternate BtcTurk on Thursday froze buyer withdrawals after blockchain analysts flagged that almost $50 million had left the platform in suspicious transfers. 

The alternate introduced on X that it had suspended withdrawals whereas it performed “detailed investigations” into the cash actions. It assured customers that their funds had been protected. 

BtcTurk didn’t instantly reply to Decrypt‘s questions. 

“Belongings belonging to nearly all of our customers are being securely held in our chilly wallets,” the alternate stated in its announcement. “Person belongings won’t be affected by this case due to BtcTurk’s sturdy monetary construction.”

It added: “Whereas our detailed investigations proceed, official authorities have been knowledgeable and all crucial safety measures have been taken. We thanks in your understanding and can proceed to share developments with you.”

If BtcTurk was certainly hacked, it would not be the primary time: Cybercriminals final 12 months focused the alternate and took $54 million, principally within the type of Avalanche (AVAX), in one among 2024’s greatest hacks. 

A variety of blockchain safety companies first flagged the suspicious actions on X. Peckshield stated that almost $48.9 million—principally in Ethereum (ETH)—had left the alternate’s wallets. Peckshield highlighted that the actions additionally included transactions in AVAX, Arbitrum (ARB), and different tokens. 

Even because the crypto house matures, hackers have gotten more and more subtle. Final 12 months was the worst 12 months on report for crypto thefts, with $2.2 billion misplaced due to hackers efficiently concentrating on centralized exchanges—not simply experimental DeFi protocols. 

And 2025 is already shaping as much as be one other dangerous 12 months for crypto losses after hackers in February stole $1.4 billion in Ethereum-related belongings from digital asset alternate Bybit.