BtcTurk Hack Dash $48M for Cross-Chain Asset Transfers
BtcTurk hack wey dem detect for August 14 sign $48 million wey dey unusual outflow from hot wallets for Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle and Polygon. Di attackers gather di moni for two addresses before dem swap am to ETH thru DEX liquidity pools. As reply, BtcTurk stop cryptocurrency deposit and withdrawal from hot wallets but dem still dey do spot trading and Turkish-lira operations. Security teams and chain-analysis firms dey track cross-chain transfers for real time to find mixer or exchange on-ramps and freeze di stolen assets. Traders dem advised to follow official BtcTurk announcements, make dem no click unverified links, and make dem think to move long-term holdings go cold storage to reduce future risks.
Bearish
Di BtcTurk hack spoil people trust for exchange security and e increase short-term selling pressure on Ethereum as dem dey swap and launder stolen funds through DEX pools. Dis breach show say hot wallet get gbege, e dey make traders reduce risk by moving assets comot from exchanges, wey dey put downward pressure. For long term, exchanges fit strengthen security protocols, but immediate market feeling still dey negative, dem dey call the impact bearish.