BtcTurk Halts Operations Following Suspected Multi-Million Dollar Digital Asset Theft
Istanbul, Turkey – August 14, 2025 – BtcTurk, one of Turkey’s largest cryptocurrency exchanges, has announced a temporary suspension of all its trading and withdrawal services. This decision follows an alleged incident involving the unauthorized transfer of a significant amount of digital assets from the exchange’s hot wallet.
The exchange disclosed the situation in a public statement, confirming that an internal investigation is underway to ascertain the full extent of the breach. Initial reports suggest that approximately $49 million worth of cryptocurrency may have been compromised. While the exact nature of the incident and the specific cryptocurrencies affected are still being assessed, BtcTurk has assured its users that it is working diligently with security experts and relevant authorities to address the situation.
In their statement, BtcTurk expressed sincere regret for any inconvenience this disruption may cause its valued customers. The company emphasized its commitment to transparency and pledged to provide regular updates as the investigation progresses. The immediate priority is to secure the remaining assets and to ensure the integrity of the platform for the future.
The suspension of services means that users will be unable to buy, sell, or withdraw their digital assets from the BtcTurk platform at this time. The exchange has advised its customers to remain patient as they work through this challenging period. Further communications regarding the resumption of services will be issued once the security protocols have been re-established and the investigation yields conclusive results.
This event underscores the ongoing security challenges faced by cryptocurrency exchanges worldwide. BtcTurk has historically been a prominent player in the Turkish crypto market, and its proactive communication regarding the incident is a significant step in maintaining user trust during this difficult time. The company’s commitment to resolving the issue and reinforcing its security measures will be crucial in restoring confidence among its user base and the wider digital asset community.
BtcTurk suspends operations amid alleged $49M hot wallet heist
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