BigONE

BigONE operates as a cryptocurrency exchange, providing a platform for trading digital assets such as Bitcoin, Ether, USDT, and various other tokens. It offers spot trading services and maintains custodial infrastructure, including hot wallets, to hold user funds. The exchange serves traders seeking to buy, sell, and manage cryptocurrencies through its online interface. Its core product is the exchange marketplace that matches buy and sell orders for a range of crypto assets.

BigONE distinguishes itself by maintaining internal security reserves composed of Bitcoin, Ether, USDT, Solana, and Mixin tokens, which it pledged to use to cover losses from security incidents. The July 2025 hot‑wallet breach resulted in a $27 million loss after attackers drained funds from the exchange’s hot wallet infrastructure. The breach was detected through abnormal asset movements, prompting collaboration with the blockchain security firm SlowMist to trace attacker addresses and monitor stolen funds. Stolen assets included approximately 120 Bitcoin, 350 Ether, millions of USDT, and tokens such as CELR, SNT, and SHIB. The attacker likely exploited the platform’s production network via compromised CI/CD or server management channels, deploying malicious binaries to account‑operation servers before draining the funds. Security gaps identified were single‑point hot‑wallet failures, weak code integrity controls, missing pre‑transaction validation, and poor network segmentation. The exchange committed to covering all losses using its internal security reserves and external liquidity for non‑mainstream tokens.