The world of digital finance continues to evolve at a rapid pace, with both exciting advancements and notable challenges. In recent developments, we’ve seen significant shifts in market trends, highlighting growing investor confidence. However, these positive movements are juxtaposed with cybersecurity risks that are shaking the foundations of some major platforms. As more people turn to the world of cryptocurrencies, the importance of robust security measures and reliable systems becomes clearer. In this blog, we’ll explore the latest news and developments that are shaping the digital finance space, shedding light on both the opportunities and risks ahead.
BigONE Exchange Suffers $27 Million Hack
BigONE, a Seychelles-based cryptocurrency exchange, experienced a significant security breach on July 16, 2025, resulting in the theft of approximately $27 million in digital assets, including Bitcoin, Ethereum, USDT, Solana, and XIN. The attack was identified as a supply chain breach that compromised the production network and server logic, enabling unauthorized withdrawals from the platform’s hot wallet. However, private keys and cold storage remained secure. In response, BigONE temporarily suspended deposits and trading services while reinforcing system security. The company has pledged to fully cover the losses using internal reserves and borrowed assets to maintain liquidity. They are collaborating with blockchain security firm SlowMist to trace the stolen funds and monitor their movement across blockchains.
Source: Tom’s Hardware
Iran’s Nobitex Exchange Loses $100 Million to Hackers
On June 18, 2025, Iran’s largest cryptocurrency exchange, Nobitex, was targeted in a cyberattack by a pro-Israel hacker group known as “Predatory Sparrow.” The hackers siphoned over $90 million in cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, from the exchange. The stolen funds were transferred to wallets containing anti-IRGC (Islamic Revolutionary Guard Corps) messages, indicating that the hackers intended to destroy the assets as a political statement rather than for profit. Crypto analysis firms Elliptic and TRM Labs suggested that the attackers deliberately “burned” the digital currency. Predatory Sparrow also claimed responsibility for a separate cyberattack on Iran’s state-owned Bank Sepah, alleging it facilitated IRGC-related activities. These events occurred amid escalating military tension between Israel and Iran.
Source: New York Post
Market Trends & Price Movements
The cryptocurrency market has shown positive movements in the past six hours:
- Bitcoin (BTC): Currently priced at $116,451.00, reflecting a 1.85% increase.
- Ethereum (ETH): Trading at $4,621.37, up 4.59%.
- BNB: Valued at $923.61, marking a 3.17% rise.
- XRP: Priced at $3.08, with a 1.99% increase.
- Cardano (ADA): At $0.903, up 2.58%.
- Dogecoin (DOGE): Trading at $0.271, reflecting a 7.96% gain.
- Solana (SOL): Currently at $240.62, up 6.44%.
These gains indicate a resurgence in investor confidence, possibly influenced by recent regulatory developments and institutional interest.
Exchange Platform Updates
- Crypto.com: The platform has temporarily paused Eigenlayer restaking due to issues with its staking service provider. Deposits have been suspended, and staking rewards may be impacted.
- Coinbase: All services, including website, mobile app, and API, are operational, with no reported outages.
- Binance: No recent outages reported.
Blockchain Technology Developments
- Blockchain Market Growth: The global blockchain technology market is projected to reach USD 1,431.54 billion by 2030, growing at a CAGR of 90.1% from 2025 to 2030. This growth is driven by increasing demand for secure and transparent transactions across various industries.
- Ethereum Layer-2 Solutions: Recent outages in Ethereum layer-2 solutions like Linea and Polygon have raised questions about their reliability, especially ahead of significant events like token airdrops.
Security & Hacks
- BigONE Exchange Breach: BigONE crypto exchange suffered a security attack resulting in the loss of approximately $27 million in digital assets. The company has pledged to fully cover the losses using internal reserves and borrowed assets.
- Iran’s Nobitex Exchange Hack: Iran’s largest cryptocurrency exchange, Nobitex, lost $100 million to hackers, leading to a nationwide internet blackout. The attack was attributed to the pro-Israeli hacker group “Predatory Sparrow.”
Stay informed and ahead of the curve by keeping up with the latest updates. The world of digital finance is constantly evolving, and staying updated is key to navigating its many changes. Keep reading to stay in the loop and make well-informed decisions.
