On June 22, the Turkish cryptocurrency exchange BtcTurk fell victim to a large-scale hacker attack. The perpetrators managed to gain access to hot wallets containing cryptocurrencies, resulting in a total damage estimated at $54 million. During the attack, assets of ten different cryptocurrencies, including Bitcoin and Ethereum, were stolen.Most of the assets remained in cold wallets, which were not compromised, allowing for minimized losses. As a result of the breach, the value of Avalanche tokens fell by 10%, but subsequently partially recovered.Binance CEO Changpeng Zhao reported that his exchange was able to freeze $5.3 million of the stolen funds and is actively cooperating with BtcTurk in the investigation of the incident. This underscores the importance of prompt response and collaboration within the cryptocurrency community to prevent and mitigate the consequences of such attacks.Experts continue to analyze the incident to understand the scope of the breach and to prevent similar attacks in the future. Turkish authorities have also joined the investigation, attempting to find the culprits and recover the stolen funds.
