Turkey’s well-known cryptocurrency exchange BtcTurk made headlines today due to large suspicious fund transfers. According to crypto security firm PeckShield Inc and other monitoring platforms, a total of $48 million worth of cryptocurrency was sent from the exchange to two separate addresses.
The transferred assets include popular cryptocurrencies such as ETH, AVAX, ARB, BASE, OP, MANTLE, and MATIC. Following the news, some users reported that deposits and withdrawals of crypto assets were temporarily unavailable on their accounts.
In an official statement, BtcTurk said that a technical issue occurred in its “hot wallets,” which caused the temporary suspension of crypto deposits and withdrawals. The company emphasized that trading operations and Turkish Lira deposits and withdrawals continue as normal.
“All users will be informed once operations are restored,” the statement read.
While a cyberattack has not been officially confirmed, the large volume and timing of the transfers have raised concerns in the crypto community. Users continue to discuss whether the incident is due to a technical fault or a cyberattack.
