Turkish cryptocurrency exchange BtcTurk experienced a significant cyber attack on June 22, 2024. The attack compromised some of the exchange's hot wallets, leading to the theft of approximately $55 million worth of AVAX. The stolen AVAX, amounting to 1.96 million tokens, was transferred to various exchanges, including Coinbase, Binance, and Gate, and used cross-chain bridges like THORChain. Binance has frozen over $5.3 million in stolen funds and is assisting BtcTurk with the investigation. The hacker reportedly sold the stolen AVAX to purchase Bitcoin. As a result of these events, AVAX's price fell by 10%.