ZachXBT Slams Hacked CEX BigONE, Says Firm Failed to Stop Months of Scam Activity
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
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 exchange’s 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 hadn’t 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.
