ZachXBT Slams Hacked CEX BigONE, Says Firm Failed to Stop Months of Scam Activity

A $27 million hack may not be BigONEs biggest problem as ZachXBT accuses the exchange of ignoring scam activity for months.

Centralized crypto exchange BigONE is facing scrutiny from blockchain sleuth ZachXBT today, July 16, after the exchange suffered a multi-million dollar hack.

After reports emerged that the CEX had lost $27 million in an attack, the well-known on-chain investigator responded by accusing BigONE of enabling large-scale scam activity for months before the exploit.

In a series of X posts today, ZachXBT, known for tracking illicit crypto flows, alleged that BigONE has processed at least $60 million in scam-related funds through a single deposit address last year.

The investigator revealed that the address was used for seven consecutive months and linked to pig butchering, romance, and investment scams including Define Product, Bestbitex, and Trustfutureswap. Additionally, another address tied to BigONE has seemingly received $4.5 million in similar scam proceeds in the past week, ZachXBT reported.

“I do not feel bad for the team […]” ZachXBT posted on X, referring to the hack, adding that the exchange was a known facilitator of fraud schemes. “They used the same account for 7 months uninterrupted.”

BigONE acknowledged the scam-linked deposits in a reply on X, stating the firm had frozen a portion of the stolen funds and is cooperating with law enforcement, though it did not specify which agencies were involved. The company also did not provide evidence or details, citing limitations on sharing screenshots.

Yet, ZachXBT quickly pushed back, calling out the exchanges response and highlighting its failure to act, despite what he alleged was months of scam activity running through its platform.

As of press time, the exchange hadnt publicly addressed those claims. The Defiant reached out to BigONE for comments and has not received a response.

BigONE has seen about $493 million in trading volume over the past 24-hours, ranking it 42nd among CEXs globally, according to CoinGecko data. Binance leads CEXs in 24-hour volume, with over $25.6 billion.

Third-Party Attack

On-chain data shared by blockchain analytics firm Lookonchain show that the $27 million in crypto stolen from BigONE today was quickly converted into multiple cryptocurrencies, including 120 Bitcoin (BTC), 23.3 million TRON (TRX), 1,272 Ethereum (ETH), and 2,625 Solana (SOL).

It remains unclear how the attackers gained access to BigONE‘s hot wallet, but the exchange said in an official report on the incident that the hack was the result of a “third-party attack targeting our hot wallet.” The exchange also reassured customers in an X post that all private keys remain secure and that its team is working with blockchain security firm SlowMist to track the attacker’s addresses and monitor fund movements.

As The Defiant previously reported, a recent report from SlowMist revealed that among blockchain ecosystems, Ethereum was hit hardest in terms of security losses in the first half of 2025, with DeFi as the most targeted sector.