Turkish cryptocurrency exchange BtcTurk has suspended all crypto deposits and withdrawals following the detection of suspicious outflows totaling approximately $50 million. Blockchain security firm CertiK alerted to unusual activity across multiple networks including Ethereum (ETH), Avalanche (AVAX), Arbitrum (ARB), Base, Optimism (OP), Mantle, and Polygon (MATIC), with funds moved from three wallets to two new addresses where asset swapping commenced.
BtcTurk confirmed the suspension stems from a technical issue in hot wallets, though trading and Turkish Lira transactions continue unaffected. This incident echoes a June 2024 hack where attackers compromised hot wallets but user funds remained secure. CertiK's initial report cited $48 million in abnormal movements, later revising to over $50 million, while community trackers like Cyvers Alerts corroborated the activity timeline.
The exchange has not confirmed a breach but emphasized the pause enables investigation and containment. Users await resolution amid heightened security concerns, recalling BtcTurk's previous assurance that cold storage funds were untouched during past incidents. Ongoing monitoring shows the attacker actively liquidating assets.