BtcTurk Hack
Reported loss
$54.0M
Private Key Compromised (Unknown Method)
What happened
On June 22, 2024, Turkish exchange BtcTurk reported unauthorized access affecting hot wallets. Industry reporting put the loss at roughly $54 million, while BtcTurk said trading and fiat operations continued and that most assets remained in cold storage. The exchange did not publish a definitive root-cause report.
Technical root cause
The confirmed issue is compromise of hot-wallet custody controls. Public sources do not establish whether the entry point was a stolen private key, malware, insider access or another method; the mechanism was not disclosed.
How it happened
- An attacker obtained control of one or more BtcTurk hot-wallet paths.
- Crypto assets were moved from wallets holding funds needed for withdrawals.
- BtcTurk restricted crypto deposits and withdrawals while investigating and coordinating with exchanges and investigators.
- Public on-chain reporting associated the incident with a limited set of assets rather than the exchange’s entire reserve.
Protocol details
Evidence
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