The BtcTurk exchange was attacked by hackers and lost AVAX tokens worth more than 54 million USD, leading to a decrease in the value of this token by more than 10%.
According to crypto detective ZachXBT, he noted in a post on X about the security breach of Türkiye’s largest cryptocurrency exchange, BtcTurk. According to information, the culprit stole 1.96 million AVAX (worth $54.2 million)
BTCTurk was apparently hacked
Not sure if their hot wallet is on x-chain pic.twitter.com/4Tdj7GjNrF
— ZachXBT (@zachxbt) June 22, 2024
To further emphasize this case, ZachXBT also shared with his followers on Telegram channel, he said:
AVAX has dropped 10% in the past few hours, likely due to a security incident that caused the perpetrators to steal 1.96 million AVAX ($54.2 million) to Coinbase, Binance, Gate and transfer to THORChain.
BtcTurk exchange also confirmed cyberattack on June 22, resulting in the unauthorized loss of funds. The exact number of losses has not yet been disclosed, but the exchange assured that the majority of funds in cold storage are safe and secure. User assets are not at risk.
According to data from CoinMarketcap, Avalanche’s AVAX token has plummeted more than 10% to the lowest level of 24.82 USD following the cyber security attack targeting BtcTurk. At the time of writing, AVAX has recovered to $25.82, but still saw a decline of 6.52% over the past 24 hours.
Currently, this event is still developing, we will update the situation when we know more information.
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