The BigONE cryptocurrency exchange was hacked for more than $27&nbsp;million, which the hacker quickly swapped for various other tokens. The attacker compromised one of the exchange's <button class="define-target" id="hot-wallet">hot wallets</button> after gaining access to the company's production network. BigONE stated they would fully cover the loss.<p>Blockchain security researcher zachxbt responded to the hack by saying, "I do not feel bad for the team as this CEX processed a good bit of volume from <button class="define-target" id="pig-butchering">pig butchering</button>, romance, investment scams." Elsewhere he suggested that hacks of "sketchy offshore exchanges" would be a positive for the crypto industry, serving as a "natural cleanse".</p>

"BigONE Security Incident Disclosure and Progress Update – July 16"

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