BTCTurk

BTCTurk, a leading cryptocurrency trading platform in Turkey, temporarily suspended deposits and withdrawals after detecting a security breach on Thursday morning. Blockchain security firms tracked **$49 million** worth of cryptocurrency (primarily Ethereum, with $38.6 million siphoned) being drained from the platform’s **hot wallets** in unauthorized transactions. The company assured users that the **majority of assets remain secure in cold wallets** and that **customer funds would not be affected** due to its robust financial structure. Buying/selling transactions and Turkish Lira operations continued uninterrupted. Law enforcement was notified, and BTCTurk stated it would resume full services post-investigation.The incident aligns with a surge in crypto thefts in 2025, including attacks on GMX ($40M), CoinDCX ($44M), and Cork Protocol ($12M). Over **$2 billion** in cryptocurrency was stolen in H1 2025, with North Korea-linked hackers responsible for a $1.5 billion breach at Bybit in February. BTCTurk, founded in 2013, is a prominent platform in Turkey, known for sponsoring national soccer teams. The breach highlights persistent vulnerabilities in **hot wallet security** and the escalating sophistication of crypto-focused cyberattacks.

Source: https://therecord.media/turkish-crypto-exchange-warns-cyber-incident

TPRM report: https://www.rankiteo.com/company/btcturk-global

"id": "btc756081525",
"linkid": "btcturk-global",
"type": "Cyber Attack",
"date": "8/2025",
"severity": "60",
"impact": "2",
"explanation": "Attack limited on finance or reputation"

{'affected_entities': [{'industry': 'Financial Services (Cryptocurrency)',
                        'location': 'Istanbul, Turkey',
                        'name': 'BTCTurk',
                        'type': 'Cryptocurrency Exchange Platform'}],
 'attack_vector': ['Compromised Hot Wallets', 'Unauthorized Transfers'],
 'customer_advisories': ['Assurance of Asset Safety in Cold Wallets',
                         'Temporary Suspension of Deposits/Withdrawals'],
 'date_detected': '2025-07-11T00:00:00Z',
 'date_publicly_disclosed': '2025-07-11T00:00:00Z',
 'description': 'A popular cryptocurrency platform in Turkey, BTCTurk, '
                'temporarily suspended deposits and withdrawals after security '
                'firms tracked $49 million worth of coins leaving the platform '
                'in unauthorized transactions. The incident involved unusual '
                'activity in the company’s hot wallets, with most stolen funds '
                'siphoned in Ethereum ($38.6 million) and the remainder across '
                'other cryptocurrencies. BTCTurk confirmed the security breach '
                'and initiated an investigation, assuring users that assets in '
                'cold wallets remain secure and unaffected. Buying/selling '
                'transactions and Turkish Lira deposits/withdrawals continued '
                'uninterrupted. Law enforcement was notified, and the platform '
                'plans to resume full operations post-investigation.',
 'impact': {'brand_reputation_impact': 'Moderate (High-Profile Incident in '
                                       'Turkey’s Crypto Sector)',
            'downtime': 'Deposits/Withdrawals Suspended (Temporary; Duration '
                        'Unspecified)',
            'financial_loss': '$49 million (Ethereum: $38.6M; Other '
                              'Cryptocurrencies: $10.4M)',
            'operational_impact': 'Partial (Deposits/Withdrawals Halted; '
                                  'Trading for Turkish Lira Continued)',
            'systems_affected': ['Hot Wallets']},
 'initial_access_broker': {'high_value_targets': ['Hot Wallets']},
 'investigation_status': 'Ongoing',
 'motivation': 'Financial Gain',
 'references': [{'date_accessed': '2025-07-11',
                 'source': 'BTCTurk Official Statement'},
                {'date_accessed': '2025-07-11',
                 'source': 'PeckShield (Blockchain Security Firm)'},
                {'date_accessed': '2025-07-11',
                 'source': 'Chainalysis (Blockchain Security Report)'}],
 'regulatory_compliance': {'regulatory_notifications': ['Law Enforcement '
                                                        'Notified']},
 'response': {'communication_strategy': ['Public Statement',
                                         'Assurance of Cold Wallet Security'],
              'containment_measures': ['Suspension of Deposits/Withdrawals',
                                       'Investigation of Hot Wallets'],
              'incident_response_plan_activated': True,
              'law_enforcement_notified': True,
              'recovery_measures': ['Planned Resumption of '
                                    'Deposits/Withdrawals Post-Investigation']},
 'stakeholder_advisories': ['Public Statement on Website/Social Media'],
 'title': 'BTCTurk Cryptocurrency Theft Incident',
 'type': ['Cryptocurrency Theft',
          'Unauthorized Transactions',
          'Hot Wallet Compromise']}