BigWhale Faces $1.5 Million Loss After Crypto Wallet Was Exposed

BigWhale.io, the crypto staking and lending project, is whirling from a significant setback. On October 3rd, 2023, the platform experienced a devastating breach in which a private key to one of its crypto wallets was exposed, resulting in the theft of 7,200 Binance Coin (BNB) valued at around $1.5 million.

BigWhale Faces $1.5 Million Loss After Crypto Wallet Was Exposed

In a Twitter announcement, as shown below, the BigWhale team pledged to refund all investors, down to the very last cent. They also made it clear that they intended to pursue legal action against the perpetrators of this breach, using every resource at their disposal, including potential collaborations with Russian government assets.

Tweet - BigWhale Faces $1.5 Million Loss After Crypto Wallet Was Exposed

However, in a subsequent post on their website, the tone shifted. BigWhale.io stated that they wouldn’t legally be obliged to reimburse investors unless the stolen funds were successfully recovered.

They attributed the incident to “force majeure” and vehemently denied any involvement in the theft. In fact, they went so far as to take down their entire website and redirect visitors to this statement.

Big Whale Statement Summarized:

BigWhale.io deeply regrets the loss experienced by our investors due to the hacking incident of October 3rd, 2023. We remain committed to supporting ongoing investigations and recovery efforts, while also making it clear that we are not legally obliged to refund funds, given the circumstances surrounding the attack.

We kindly request that this legal statement be taken into account in any discussions or proceedings related to this incident. BigWhale.io is dedicated to upholding the trust of its users and the integrity of the cryptocurrency community.

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