multi-chain

BtcTurk is Turkey's oldest and largest centralized cryptocurrency exchange, founded in 2013 in Istanbul. The exchange has suffered two major hot wallet breaches in 14 months — approximately $55 million stolen in June 2024 and approximately $48–$49 million in August 2025 — both attributed to private key compromise, establishing a pattern of repeated critical security failures. Despite operating under Turkish regulatory frameworks (CMB and MASAK) and maintaining cold wallet protections, the exchange's inability to prevent a second near-identical attack within a year raises serious concerns about the adequacy of its security controls.

CoinEx is a centralized cryptocurrency exchange that suffered a major hot wallet breach on September 12, 2023, with losses estimated between $54 million and $70 million across multiple blockchains. On-chain investigators ZachXBT and Elliptic attributed the attack to the Lazarus Group (TraderTraitor), a North Korean state-sponsored threat actor, based on wallet address overlap with the contemporaneous Stake.com hack. Stolen proceeds were subsequently laundered in part through the Sinbad Bitcoin mixer, which was sanctioned by the U.S. Treasury's OFAC on November 29, 2023.

M2 is a UAE-based cryptocurrency exchange licensed by the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, operating as a regulated Multilateral Trading Facility and custodian since late 2023. On October 31, 2024, the exchange suffered a $13.7 million hot wallet breach attributed to an access control vulnerability across the Bitcoin, Ethereum, and Solana networks. M2 subsequently reimbursed all affected customers from its own assets and stated it had engaged law enforcement and regulatory authorities.