BigONE Security Breach: What Happened and How It Changed Crypto Exchanges

When the BigONE security breach, a major hack of the BigONE cryptocurrency exchange in 2018 that led to the theft of over $20 million in digital assets. Also known as BigONE hack, it was one of the first high-profile attacks on a non-Binance exchange that forced the industry to rethink security practices. The breach didn’t just steal coins—it stole trust. Users thought BigONE was safe because it listed popular tokens like BigONE Token (ONE), the native ERC-20 token used for fee discounts and governance on the BigONE exchange. But the attack exposed weak cold storage, poor internal access controls, and a lack of real-time monitoring. It wasn’t a flaw in blockchain tech—it was a flaw in how the exchange managed it.

The fallout didn’t stop at lost funds. After the breach, BigONE froze withdrawals for weeks, leaving traders stranded. Meanwhile, competitors like Binance and Kraken moved fast to publish proof-of-reserves and adopt multi-sig wallets. The crypto exchange hacks, systematic attacks targeting centralized platforms due to poor security architecture or human error became a new benchmark. Regulators started asking harder questions. Exchanges had to prove they weren’t just listing coins—they were protecting them. The exchange token risks, the danger of holding tokens tied to platforms with weak security or unclear governance became obvious. Holding ONE wasn’t just a way to save on trading fees—it was betting on BigONE’s survival. After the breach, that bet looked riskier than ever.

What’s left today? BigONE still operates, but it never fully recovered its reputation. The breach became a case study in crypto exchanges: size doesn’t guarantee safety. Even platforms with decent volume can be vulnerable if they cut corners on security. The posts below dig into other exchange failures, from Cryptex’s shutdown to Slex’s shaky track record. You’ll see how the same mistakes keep happening—poor audits, no insurance, delayed responses. And you’ll find out what to look for before you deposit your next coin. This isn’t just history. It’s a warning label.