When “hot” wallets are under attack, or how to reduce risks in storing crypto assets

The year 2025 once again confirmed: hacker attacks on centralized exchanges remain one of the main threats for cryptocurrency holders. This time, the victim was the cryptocurrency platform BigONE, which lost about $27 million in Bitcoin, Ethereum, stablecoins, and other assets.

What happened?
The company, registered in the Seychelles, reported that the attack was aimed at its hot wallet — a storage connected to the internet and used for daily operations. As a result, the attackers gained access to BTC, ETH, USDT, SOL, XIN, DOGE, and a number of other coins.

The exchange assured clients that:

• private keys were not compromised;

• the attack vector was identified and blocked;

• all losses will be compensated from internal reserves.

Nevertheless, deposits and trading are temporarily suspended, and withdrawals will resume only after additional security measures are implemented.

Why was this possible?
Hot wallets are a necessary element of any exchange. But their very connection to the network makes them vulnerable:

• they are accessible for attacks 24/7;

• any exploit or phishing attack on the company’s infrastructure can lead to a leak;

• users do not control the private keys — they belong to the platform.

The BigONE story is not an exception. Previously:

• Bybit lost $1.5 billion due to a cold storage hack;

• Coinbase lost $400 million as a result of an insider attack.

How to avoid such risks?
The key takeaway: handing over assets for storage to third parties is always associated with danger. Even if a company promises compensation, you lose control and become dependent on the platform’s decisions.

This is where an alternative arises — a personal decentralized wallet where only you own the keys.

Why DexSAFE?
DexSAFE is not just a crypto wallet, but a totally decentralized solution for securely storing assets, created without intermediaries or servers. Its advantages:

• Only you own the keys. No one but you has access to your funds.

• Seed phrase and unique passphrase. Even if the device is lost or stolen, access can be restored.

• Complete anonymity and no servers. Your data is not stored in the cloud and cannot be stolen in mass attacks.

• Additional security modes. Including Duress mode for emergencies.

• Convenience. Assets are accessible from any device, but control always remains only with you.

Each news story about a hack is a reminder: the security of cryptocurrencies is a personal responsibility.

Store assets where there are no intermediaries and vulnerable servers.

Download DexSAFE for 📱 Android or 📱 IOS and start managing your assets with real security.

Your funds — only in your hands.

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