BigONE Risk Warning | $27 Million Theft from Seychelles Exchange: Are User Assets Safe?

1. Platform Background and Market Position

• Platform full name : BigONE Exchange

• Founded : 2017

• Place of registration : Seychelles

• Official website : https://bigone.com

• Market positioning : Focusing on emerging markets in Asia and Africa, providing spot, contract and DeFi products, claiming to be "safe and transparent".

BigONE once attracted investors by promoting "transparent reserve proof", but its regulatory registration is in the offshore jurisdiction of Seychelles and lacks authoritative financial supervision.

2. Hacker Attack: $27 Million in Losses

• Time : May 2025

• Attack method : The hot wallet was hacked, involving multiple assets such as BTC, ETH and USDT.

• Amount of loss : approximately $27 million .

• Platform response : BigONE announced that it will fully compensate users for their losses and work with security companies to track down the hackers.
  👉 Source: Tom's Hardware

3. Investor Influence and Feedback

• Trading suspension : After the attack, the platform temporarily shut down trading and withdrawals, causing panic among users.

• User doubts : Some users on social media pointed out that the hot wallet storage ratio is too high , which is seriously inconsistent with the "security" propaganda.

• Market confidence : Some users said they would wait for compensation plans, but more users chose to transfer assets.

IV. Regulatory and Compliance Vulnerabilities

• Regulatory status : Registered in Seychelles, without FCA, ASIC, CySEC or other authoritative licenses.

• Risk points : Offshore jurisdictions have lax regulation and lack client funds isolation and compensation protection mechanisms.

• Historical issues : BigONE was once questioned by foreign media for its lack of transparency and the fact that its "existing data was not regularly audited."

V. Case Comparison and Risk Implications

1. CoinDCX (India) : $44 million security breach, still claims that user assets are not affected.

2. WazirX (India) : $235 million hack, still under investigation.

3. Bybit (Dubai) : $1.4 billion stolen, the largest single theft in crypto history.

👉 Lesson: Hot wallet security is the biggest weakness, and offshore platforms’ “compensation promises” often lack legal protection.

VI. Risk Warning and Investment Advice

Investment advice :

• Avoid storing large amounts of assets in BigONE for a long time;

• If used, it is limited to small transaction funds;

• It is more recommended to use a compliant trading platform that is authoritatively regulated.

VII. Conclusion

BigONE’s $27 million theft once again proves that offshore registered exchanges have extremely high security and compliance risks.
Even if the platform promises compensation, investors should be wary of its ability to fulfill its obligations and subsequent risks.

⚠️Final conclusion : BigONE has an extremely high risk level and is not recommended as a primary trading or fund custody channel.