Major Turkish Crypto Exchange BtcTurk Hacked, Reports Allege $48 Million Stolen

A significant cyberattack has struck one of Turkey’s most prominent cryptocurrency exchanges, BtcTurk. Early this morning, attackers breached the platform’s hot wallets, making off with millions of dollars in various crypto assets. The company has confirmed the security breach and announced that an official investigation is now underway.

In an official statement, BtcTurk announced it had detected unusual activity, which prompted the immediate suspension of all cryptocurrency deposit and withdrawal services on the exchange. The company assured its users that trading would resume once their comprehensive review is complete.

While BtcTurk has not yet confirmed the exact value of the stolen funds, accounts on social media are reporting that the total loss amounts to approximately $48 million. These reports also claim the attackers are already attempting to launder the stolen assets on various other platforms.

The exchange has been quick to reassure its clients, stating that the vast majority of assets are held in secure cold storage and were unaffected. BtcTurk emphasized that its financial reserves are more than sufficient to cover the losses and that user investments will not be impacted by the incident.

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