BTCTURK

DESCRIPTION OF EVENTS

BtcTurk is a platform that allows users to easily buy, sell, and accumulate Bitcoin and stocks, offering seamless access to both cryptocurrency and traditional financial markets. Their core philosophy, “There’s Always More,” reflects a commitment to continuous innovation and user empowerment. The platform emphasizes simplicity and accessibility, enabling self-service financial transactions for a wide range of users.

The company’s mission is rooted in adding value to both the cryptocurrency ecosystem and the broader financial industry. With a strong and experienced team, BtcTurk supports the Turkish economy by building next-generation financial services. It aims to meet investors' diverse financial needs by integrating traditional capital market instruments with Bitcoin and other cryptocurrencies.

Beyond its financial services, BtcTurk is dedicated to supporting and uplifting valuable ideas, innovation, and community initiatives. The company invests in national teams, sports, culture, and the arts, aiming to preserve the prestige of the crypto industry while fostering meaningful contributions to society. Through its vision and values, BtcTurk aspires to shape a more inclusive and dynamic financial future

Unfortunately, it appears that the BTCTurk hot wallets were not fully secure, despite a recent hack in June 2024.

Limited details on the exploit have been published. It is worth noting that BTCTurk had a separate hot wallet exploit just over a year ago in June 2024.

Loss estimates have varied from $30m (AA), $48m-$49m (Cyvers, Halborn, TheRecord, Yahoo Finance), to $51.7m (Rekt News).

Notice was posted to Twitter/X:

Değerli kullanıcımız, Sıcak cüzdanlardaki teknik bir sorun nedeniyle kriptopara yatırma ve çekme işlemleri geçici olarak devre dışı bırakılmıştır. İşlemler yeniden açıldığında ayrıca bilgilendirme yapılacaktır. Alım satım ye işlemleri ve Türk Lirası yatırma çekme islemleri kesintisiz devam etmektedir.

Translation to English:

Dear user, Due to a technical issue with the hot wallets, cryptocurrency deposit and withdrawal transactions have been temporarily disabled. A separate notification will be made when these transactions are re-enabled. Trading transactions and Turkish Lira deposit/withdrawal operations are continuing without interruption.

A later update provided and translated:

Değerli kullanıcımız, 14 Agustos 2025 tarihinde yapilan kontrollerde sicak cüzdanlarımızda olağan dışı hareketler tespit edilmiştir. Tedbir amaçlı kripto para yatırma ve cekme islemleri gecici olarak durdurulmustur. Çalışmalar tamamlandığında yeniden açılacaktır. Varlıkların büyük çoğunluğu güvenli soğuk cüzdanlarımızda tutulmaktadır. BtcTurk'ün güçlü mali yapısı sayesinde kullanıcı varlıkları bu durumdan etkilenmeyecektir Alım satım işlemleri ve Türk Lirası yatırma çekme islemleri ise kesintisiz devam etmektedir. a Detayli arastirmalarimiz devam ederken, resmi makamlar bilgilendirilmiş ve gerekli tüm güvenlik önlemleri alınmıştır. Göstermiş olduğunuz anlayış için teşekkür eder, gelişmeleri sizinle paylaşmaya devam edeceğimizi bildiririz.

As a precautionary measure, cryptocurrency deposit and withdrawal transactions have been temporarily suspended. These operations will be reopened once the necessary work is completed.

The vast majority of assets are stored securely in our cold wallets. Thanks to BtcTurk’s strong financial structure, user assets will not be affected by this situation.

Trading transactions and Turkish Lira deposit/withdrawal operations continue without interruption.

While our detailed investigation is ongoing, the relevant authorities have been informed and all necessary security measures have been taken.

We thank you for your understanding and would like to inform you that we will continue to keep you updated on developments.

BTCTurk has publicly agreed that users will not face any losses. There is no suggestion that the platform has been able to recover any funds.

There are limited updates on the incident. Funds have been traced on the blockchain, though there is no indication that any have been recovered.

In August 2025, BtcTurk experienced a major security breach involving its hot wallets, resulting in estimated losses between $30 million and $51.7 million. This was the second such incident following a similar exploit in June 2024. In response, the platform temporarily suspended cryptocurrency deposit and withdrawal services, though trading and Turkish Lira transactions remained operational. BtcTurk assured users that most assets were safe in cold wallets and that no user funds would be lost, thanks to its strong financial position. While the breach is under investigation and authorities have been notified, there have been no confirmed recoveries of the stolen funds.

BtcTurkKripto - "Information on Deposit and Withdrawal Transactions" - Twitter/X (Oct 20)
BtcTurkKripto - "Winners @SadeceFanToken @darkfantoken @Bilal71920090 @hsyn0a @ersinnsen First of all, we congratulate you. Please contact @BtcTurkDestek so we can share your gift with you." - Twitter/X (Oct 20)
BtcTurkKripto - "Important Information" - Twitter/X (Oct 20)
Explained: The BTCTurk Hack (August 2025) - Halborn (Oct 20)
Turkish crypto exchange BTCTurk warns of security incident after $49 million leaves platform - TheRecord Media (Oct 20)
Turkish Crypto Exchange BtcTurk Witnesses $48M of Suspicious Outflows Amid Hack Fears - Yahoo Finance (Oct 20)
Crypto platform BtcTurk says 'all security measures taken' after claims of $30M hacking - AA (Oct 20)
Rekt - BTCTurk - Rekt (Oct 20)
CyversAlerts - "ALERT $48M worth of digital assets have been detected in unusual activity across multiple chains involving Turkish exchange @btcturk About 30 minutes ago, our system detected multiple alerts across $ETH, $AVAX, $ARB, $BASE, $OP, $MANTLE, and $MATIC networks. Most funds were moved to two addresses." - Twitter/X (Oct 20)
PeckShieldAlert - "#PeckShieldAlert @btcturk has been hacked, w/ estimated losses of ~$49M" - Twitter/X (Oct 20)
First Transaction Taking 516,123.180584 USDT - EtherScan (Oct 20)
BtcTurk - Finansal Hizmetler (Jun 26)

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