According to @PeckShieldAlert, crypto exchange BtcTurk has been hacked with estimated losses of approximately $49 million; source: @PeckShieldAlert. @PeckShieldAlert reports the breach and quantifies the loss, indicating a major security incident at the exchange; source: @PeckShieldAlert.

According to @lookonchain, BtcTurk was hacked for more than $48 million in crypto assets. According to @lookonchain, the attacker is actively swapping the stolen funds into ETH on-chain. According to @lookonchain, the wallets linked to the exploit are 0x0fe41fe8786329fb6bd8f2baa73aa55e770f0951, 0xa041feb3a8297c5689fee180083164a061a17fd6, and 0x7D91D1ebeBA91257733a523409125aEdac5d8b6E. According to @lookonchain, this update was posted on August 14, 2025, enabling traders to follow further ETH swap activity directly from these addresses.

According to Lookonchain, crypto exchange BtcTurk was hacked for more than $48 million, source: Lookonchain on X, Aug 14, 2025. According to Lookonchain, the attacker is swapping the stolen assets into ETH, source: Lookonchain on X, Aug 14, 2025. According to Lookonchain, funds are linked to these on-chain addresses: 0x0fe41fe8786329fb6bd8f2baa73aa55e770f0951, 0xa041feb3a8297c5689fee180083164a061a17fd6, 0x7D91D1ebeBA91257733a523409125aEdac5d8b6E, source: Lookonchain on X, Aug 14, 2025.

According to @lookonchain, Turkish exchange BtcTurk was hacked for more than $23 million (source: Lookonchain on X, Aug 14, 2025). The attacker is actively swapping the stolen assets into ETH, indicating ongoing on-chain conversions that traders should track for liquidity shifts (source: Lookonchain on X, Aug 14, 2025). Historically, exploiters converting proceeds to ETH often route via major DEXs and bridges, which can impact pool liquidity and execution slippage during large swaps (source: Chainalysis 2023 Crypto Crime Report).

According to @MistTrack_io, three Ethereum addresses linked to the BtcTurk hacker were identified as 0xA041FeB3a8297c5689FEE180083164A061a17fD6, 0x7D91D1ebeBA91257733a523409125aEdac5d8b6E, and 0x0fE41fe8786329fB6bd8F2baa73aa55e770f0951. Source: https://twitter.com/MistTrack_io/status/1955976466015117521 MistTrack requested Etherscan to flag these addresses to aid on-chain identification and monitoring by market participants. Source: https://twitter.com/MistTrack_io/status/1955976466015117521 Traders should screen any inbound or outbound funds against these addresses and avoid interacting with them in line with FATF risk-based AML guidance for virtual assets. Source: https://www.fatf-gafi.org/en/publications/Fatfrecommendations/Guidance-rba-virtual-assets-vasps.html These addresses are on Ethereum, so transfers can be tracked in real time, and users can set address alerts via Etherscan’s Watch List feature to monitor movements. Source: https://info.etherscan.com/etherscan-address-watchlist/

According to ZachXBT, legal cases targeting exchanges for letting through illicit funds, such as the Coinbase incident involving BTCTurk hack funds, could present a lucrative opportunity for law firms. This highlights the challenges KYC/AML practices face in the fast-paced crypto industry, significantly impacting trading environments. Source: ZachXBT on Twitter.

According to ZachXBT, there is a potential for legal firms to exploit crypto exchanges due to lapses in KYC/AML processes, referencing past incidents like the BTCTurk hack involving Coinbase.

According to ZachXBT, legal actions targeting exchanges for allowing illicit funds, such as the Coinbase incident involving BTCTurk, could create significant trading implications due to the inefficacy of KYC/AML processes.