Crypto Exchange BtcTurk Suffers Cyberattack, Funds Safe

John Darbie
Photo: Finoracle.net

Crypto Exchange BtcTurk Hit by Cyberattack – Latest News

ISTANBUL – BtcTurk, one of Türkiye’s top cryptocurrency exchanges, has announced that it has been struck by a cyberattack. The attack, which took place on June 22, was detected by the company’s teams and resulted in uncontrolled withdrawals from certain accounts.

What Happened?

According to BtcTurk, only some of the balances in the hot wallets of 10 different cryptocurrencies were affected. Importantly, their cold wallets, where most of the assets are stored, remain secure.

"Only some of the balances in the hot wallets of 10 cryptocurrencies were affected by the cyber-attack, while our cold wallets, where the vast majority of assets are held, are safe," BtcTurk said.

Financial Stability and User Assurance

BtcTurk has assured its users that their financial strength far exceeds the amounts lost in this attack. Hence, users' assets will not be impacted by these losses. They are also conducting a detailed investigation into the incident.

Security Measures Taken

As a precaution, BtcTurk has temporarily halted cryptocurrency deposits and withdrawals. These services will be resumed once their investigation and necessary security measures are complete.

Official Actions

BtcTurk mentioned that officials have been contacted regarding this incident. They are working diligently to restore normal operations as soon as possible.

Stay tuned for more updates as BtcTurk continues to secure its platform and investigate this cyberattack.

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John Darbie is a seasoned cryptocurrency analyst and writer with over 10 years of experience in the blockchain and digital assets industry. A graduate of MIT with a degree in Computer Science and Engineering, John specializes in blockchain technology, cryptocurrency markets, and decentralized finance (DeFi). His insights have been featured in leading publications such as CoinDesk, CryptoSlate, and Bitcoin Magazine. John’s articles are renowned for their thorough research, clear explanations, and practical insights, making them a reliable source of information for readers interested in cryptocurrency. He actively follows industry trends and developments, regularly participating in blockchain conferences and webinars. With a strong reputation for expertise, authoritativeness, and trustworthiness, John Darbie continues to provide high-quality content that helps individuals and businesses navigate the evolving world of digital assets.