Turkish trading platform hacked, nearly $50 million assets cross-chain transfer risk alert

Security monitoring agencies recently issued a warning that a well-known Turkish cryptocurrency trading platform was hacked, with stolen assets totaling approximately $48 million. On-chain data tracking shows that the stolen funds have been frequently transferred across multiple blockchains such as Ethereum, Arbitrum, and Polygon, ultimately flowing into an address starting with 0x0fe4. This address currently holds 3,845 ETH.

Hacker Activity Trajectory Revealed, Funds Cross-Chain Swapped for Major Trends

Monitoring data indicates that the hacker did not choose to cash out immediately but adopted a more covert strategy—transferring assets across multiple blockchains via cross-chain bridges. This approach is typically used to evade tracking and freezing on a single chain. Currently, the large amount of ETH held by the hacker remains in a “silent” state, but the market is generally concerned about when these assets will be exchanged for USD or other fiat currencies for withdrawal.

This is Not the First Time: Platform Security Vulnerability Sparks Industry Warning

According to previous monitoring records, this platform also experienced a similar-sized hacking incident in August of this year, with losses exceeding $48 million. The repeated attacks suggest that the platform’s security defenses may have systemic weaknesses. The hacker’s successful re-entry indicates that security vulnerabilities have not been fully patched.

Industry Reminder: Be Cautious of Cross-Chain Asset Flows

Currently, market attention is focused on when the hacker will exchange this batch of ETH. Based on past cases, large stolen assets are often converted into USD through OTC channels or in batches to avoid tracking. Users and trading platforms need to stay alert, monitor the activity of related addresses, and prevent assets from flowing into underground financial channels.