According to data from CoinGecko and analysis from detective ZachXBT, Avalanche’s AVAX token plummeted 10% to $24.92 following a security breach targeting Türkiye’s largest exchange BtcTurk on Saturday. .
ZachXBT note in a series of tweets about the incident:
“The perpetrator transferred 1.96 million AVAX ($54.2 million) to Coinbase/THORChain.”
ZachXBT added in a separate post on his Telegram channel:
“AVAX drops 10% within hours as this entity begins moving 1.96 million AVAX ($54.2 million) to Coinbase, Binance, Gate and bridging via THORChain.”
BtcTurk has confirm cyber attack on June 22, leading to illegal withdrawals. The exact amount of damage has not been disclosed, but the exchange ensures that the majority of funds in cold wallets are safe and user assets are not at risk.
Founded in 2013, BtcTurk is a prominent player in the Turkish cryptocurrency market, offering a variety of services including trading and e-wallets. The exchange has temporarily stopped cryptocurrency deposits and withdrawals and is working with authorities to investigate the breach.
AVAX price chart | Source: CoinGecKo
You can see AVAX prices here.
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According to Cryptobriefing
