BtcTurk Bleeds $48M in Crypto Heist—Hot Wallets Hacked in Broad Daylight

Another day, another crypto exchange gets raided. This time it’s BtcTurk—$48 million vanished from hot wallets faster than a trader dumping a shitcoin.

How’d it happen? Same old story: lax security meets determined hackers. No cold storage? No problem—for the attackers.

Turkish regulators are ‘investigating,’ which probably means drafting a sternly worded tweet. Meanwhile, users are left holding empty bags—classic crypto trust exercise.

Pro tip: If your exchange still uses ‘password123’ as its security model, maybe reconsider your life choices.

Centralized exchanges under attack

This latest BtcTurk hacking incident adds to the growing list of attacks centralized crypto trading platforms have experienced this year.

Earlier in the year, Bybit, one of the most prominent crypto exchanges, suffered a hack that stole approximately $1.5 billion in ethereum tokens. 

Since then, other major crypto trading platforms like India-based CoinDCX have also lost over $44 million.