BtcTurk Hacked Again, This Time Losing $48 Million - Trust Issues Spread

Turkish cryptocurrency exchange BtcTurk has once again been hit by a major security breach, with on-chain investigators confirming losses of around $48 million. 

The incident, detected in early January 2026, comes just months after another large-scale hack in August 2025, raising renewed concerns over centralized exchange security. 

As funds move across multiple blockchains, user trust in the platform is under increasing pressure.

Key takeaways

• BtcTurk reportedly lost around $48 million in a new hack detected in January 2026

• Stolen assets were bridged across Ethereum, Arbitrum, and Polygon before consolidation

• This follows a previous hack in August 2025 that caused losses of over $50 million

• Repeated incidents are intensifying trust issues around centralized exchanges in Turkey

Overview of The Latest BtcTurk Hack

Blockchain security firm AnChain.AI flagged suspicious activity involving wallets linked to BtcTurk, showing rapid asset outflows across several networks. 

Investigators observed funds initially moving through Ethereum-based addresses before being bridged to Arbitrum and Polygon. The assets were later consolidated into a single wallet, a tactic often used to simplify laundering or further obfuscation.

According to monitoring data, the total value of the stolen crypto is estimated at approximately $48 million. 

While BtcTurk has yet to publish a detailed technical breakdown, the scale and speed of the transfers indicate a coordinated and well-planned attack rather than an isolated exploit.

Read also : Inside the Flow $3.9M Hack: Network Shutdown, Fixes & User Safeguards

BtcTurk’s History Of Security Incidents

This is not the first time the Turkish exchange has faced serious security issues. In August 2025, BtcTurk suffered another major breach that reportedly resulted in losses of around $54 million. That incident forced the platform to temporarily suspend withdrawals after blockchain analysts detected irregular Ethereum transactions.

Two large hacks within such a short time frame have significantly damaged confidence among retail users. For a centralized exchange, repeated breaches raise questions about internal controls, key management practices, and overall operational security.

Read also : North Korean Hackers Steal $2B in Digital Assets: What We Know

What Users Can Do To Reduce Risk

While exchanges are responsible for securing their infrastructure, users can take steps to protect themselves:

• Avoid keeping large balances on centralized exchanges for long periods

• Use hardware wallets or non-custodial wallets for long-term storage

• Enable all available security features, including withdrawal whitelists

• Monitor official exchange announcements during security incidents

Read also : Mt. Gox Hacker Bitcoin Deposit: What It Means for the Market

Conclusion

The latest BtcTurk hack, resulting in an estimated $48 million loss, highlights ongoing security challenges facing centralized exchanges. Coming just months after a previous breach, the incident has intensified scrutiny over BtcTurk’s internal safeguards and risk management practices.

As crypto-related crime becomes more sophisticated, both exchanges and users face growing pressure to adapt. Without meaningful improvements in security transparency and operational resilience, repeated incidents like this may continue to erode trust across the centralized crypto trading landscape.

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FAQ

What happened in the latest BtcTurk hack?

BtcTurk reportedly suffered a new hack in January 2026, with blockchain analysts estimating losses of around $48 million across multiple networks.

Is this the first time BtcTurk has been hacked?

No, BtcTurk was previously hacked in August 2025, when the exchange reportedly lost more than $50 million, making this a repeat incident.

Which blockchains were involved in the BtcTurk hack?

Stolen funds were observed moving across Ethereum, Arbitrum, and Polygon before being consolidated into a single wallet address.

Did BtcTurk suspend withdrawals after the hack?

In past incidents, BtcTurk temporarily suspended withdrawals after detecting suspicious transactions, though official details on the January 2026 response remain limited.

What does the BtcTurk hack mean for centralized exchanges?

The incident highlights ongoing security risks for centralized exchanges and reinforces the importance of stronger custody controls and user risk management.