Major Hack Hits BtcTurk, $48 Million Lost in Crypto Assets

BtcTurk, Turkey’s second-largest crypto exchange, was compromised in a $48 million hack affecting eight blockchains in August 2025.

The incident highlights vulnerabilities in crypto infrastructure, prompting scrutiny from regulators and concern among investors.

$48 Million Stolen in Multi-Blockchain Breach

In August 2025, BtcTurk experienced a major breach. $48 million in digital assets were stolen, impacting multiple blockchains, including Ethereum and Avalanche.

The breach targeted hot wallets, leading to rapid liquidation via decentralized exchanges. BtcTurk confirmed the event and suspended crypto operations to focus on recovery efforts.

Investors Panic as Market Stability Threatened

The hack significantly affected the crypto market, with liquidation events occurring across involved blockchains. Investor confidence in exchange security has been shaken.

Financial impacts include market volatility and potential regulatory actions. This aligns with findings from the 2025 Crypto Crime Mid-Year Update, which highlights increasing security threats and pressures on exchanges.

Previous Hacks Indicate Rising Security Threats

Past events, such as ByBit’s $1.5 billion hack in February 2025, reflect increasing threat sophistication. These incidents spotlight potential regulatory shifts in crypto asset management.

Analysts predict stricter security protocols and international cooperation to address vulnerabilities. A comparative historical analysis suggests a trend toward increased legislative oversight.

“While the overall figures are alarming, it is important to point out that the majority of the funds lost in H1 were attributable to two concentrated, high-impact events.” – Ronghui Gu, Co-founder, CertiK