As a seasoned crypto investor with experience in the volatile world of digital assets, I can’t help but feel a pang of concern upon hearing about the cyber attack on BtcTurk, one of Turkey’s leading cryptocurrency exchanges. The unauthorized access to several hot wallets and the subsequent theft of cryptocurrencies from at least 10 different currencies is undoubtedly disheartening news for the Turkish crypto community and its investors.
A significant cyber incident struck BtcTurk, Turkey’s prominent cryptocurrency exchange, granting unauthorized individuals access to some of their hot wallets.
The exchange stated that it had detected a cyber attack on its platform, with hackers managing to steal crypto balances from some of its hot wallets.
The breach impacted at least 10 different cryptocurrencies.
One of Turkey’s prominent cryptocurrency exchanges, BtcTurk, announced on June 22nd that it had been subjected to a cyberattack. Consequently, the platform suspended transactions involving deposits and withdrawals for all ten supported cryptocurrencies. Preliminary reports indicated that certain balances in the exchange’s hot wallets were compromised, while those stored in cold wallets remain unaffected.
— Wu Blockchain (@WuBlockchain) June 22, 2024
In spite of the security incident, BtcTurk assured its customers that the lion’s share of their cryptocurrencies, kept in offline wallets, were still safe. The exchange further highlighted that its financial reserves significantly surpassed the value of the stolen funds, guaranteeing clients’ assets would be shielded from any potential losses.
Due to a recent attack, BtcTurk has momentarily halted cryptocurrency deposits and withdrawals. Their technical team is diligently working to rectify the problem and reinstate normal platform operations as swiftly as they can.
As a security analyst, I’m currently leading the investigation into the recent security incident at BtcTurk. In collaboration with relevant law enforcement agencies, we are taking every necessary step to identify the cause of the breach and put measures in place to prevent similar occurrences from happening in the future.
Turkey’s crypto scene
Turkey ranks among the top countries with the highest percentage of cryptocurrency ownership, as indicated by Triple-A’s recent report. Specifically, approximately one out of every five Turks (19.3%) owns cryptocurrencies.
According to the available data, the UAE and Singapore stand out with the highest cryptocurrency ownership rates, at 25.3% and 24.4% of their respective populations.
Analysts from Bitcoin Explorers noted in a previous study that Turkey’s unstable currency, the lira, prompted numerous citizens to shift their savings into cryptocurrencies. This trend was further fueled by the country’s progressive fintech and mobile payment ecosystem, making Turkey a leading player in the cryptocurrency market within the region.
Turkish legislators have been actively engaging in efforts to overhaul the nation’s tax structure in order to restore its financial resources, which took a heavy hit due to the destructive earthquakes of the previous year.
The government aims to increase income by implementing a 0.03% tax on crypto transactions. This fresh tax policy might yield roughly 3.7 billion liras yearly, making cryptocurrencies an attractive tax-saving investment option for Turkish residents.
Read More
- Cookie Run Kingdom Town Square Vault password
- Maiden Academy tier list
- Pi Network’s Grand Migration: 10 Million and Counting!
- Kingdom Come Deliverance 2: Lion’s Crest DLC Quest Guide
- Former ‘Bachelorette’ Star Katie Thurston Reveals Breast Cancer Diagnosis: “Waiting on Learning What Stage”
- Cuddly Cats Take Over in the Wildest Night of the Living Dead Remake!
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- NEAR Protocol Launches New Governance Proposal
- Carrie Underwood Says It Was ‘Impossible’ Not To Feel Nostalgic In Return To American Idol, But One Part Was Apparently Pretty Painful
- After The Odyssey’s First Look At Matt Damon’s Odysseus, Fans Think They’ve Figured Out Who Tom Holland Is Playing
2024-06-22 19:00