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Thursday, July 18, 2024

BtcTurk Hack: Turkey’s Largest Crypto Exchange Breached in Major Security Incident

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The Caspian Times is a platform that showcases stories and perspectives from across Eurasia. We aim to inform, inspire and empower our readers with high-quality journalism that covers the diverse and dynamic region.

BtcTurk, Turkey‘s largest cryptocurrency exchange, has confirmed that it was the target of a significant cyberattack. The breach, which occurred late last night, has raised alarms across the crypto community and among the exchange’s millions of users.

In a statement released early this morning, BtcTurk disclosed that unauthorized access was detected in their systems, compromising sensitive user data and potentially large sums of cryptocurrency assets. The exchange, which boasts over 4 million users and handles billions in daily transactions, is scrambling to assess the full impact of the hack.

This incident highlights the persistent risks associated with the rapidly growing cryptocurrency market, especially in regions like Turkey, where digital assets are gaining widespread popularity amid economic uncertainty.

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