BigONE, a lesser-known but sizable cryptocurrency exchange, was hit by a coordinated supply chain attack, resulting in the theft of over $27 million in assets, including nearly 10 billion Shiba Inu (SHIB) tokens. The breach reportedly allowed the attacker to bypass internal account controls and reroute funds across multiple wallets without touching private keys. The stolen assets include 121 BTC, 350 ETH, 8.54 million USDT, 1,800 SOL and a significant amount of SHIB.
The SHIB community was immediately on edge. With so many tokens withdrawn and now circulating outside of exchange custody, many braced for the worst: a dump, panic exits and a ripple effect across SHIB-linked liquidity pools. However, what followed was not exactly fear.
Examining SHIB’s one-minute chart during the critical hours after the attack was disclosed reveals a brief dip in prices below $0.00001350. However, instead of crashing, the chart started climbing back toward $0.00001370, almost as if the shock had not registered at all.
The @BigONEexchange suffered a supply chain attack, losing over $27M.
The attacker compromised the production network and altered account controls, enabling fund withdrawals. Private keys remained secure.
Losing: 121 $BTC, 350 $ETH, 8.54M $USDT, 25,487 $UNI, 9.69B $SHIB, 1,800… pic.twitter.com/krOV9jA1bG
— Onchain Lens (@OnchainLens) July 16, 2025
With 9.69 billion tokens stolen so suddenly, it would not have been surprising to see volatility spike. Yet, the market did not follow that script. Was it disbelief? Was it due to low liquidity on BigONE? Or did SHIB’s massive circulating supply simply absorb the blow?
It is worth noting that Shiba Inu is not just another small altcoin caught in a rug pull. SHIB remains one of the most traded tokens globally, with a retail-heavy holder base that typically reacts quickly to major news. This time, however, even as the hacked tokens moved through visible wallet trails, the price remained within a tight range.
BigONE has since frozen withdrawals and confirmed that the breach occurred through its backend systems and not through a leak of user credentials or wallets. While a recovery plan is reportedly in motion, SHIB’s price movement – or lack thereof – may prove to be the more intriguing narrative.
