BingX Cryptocurrency Exchange Hacked, Over $43 Million Stolen Amid 'Wallet Maintenance'

Sep 20, 2024, 03:54 AM

BingX, a Singapore-based cryptocurrency exchange, has reportedly been hacked, resulting in significant asset losses. The hack, detected on September 20, led to the theft of over $43 million in digital assets, with some reports indicating losses of up to $52 million. Various reports indicate that the stolen assets include more than 360 altcoins, with significant amounts of USDT, WUSD, BTCB, and other cryptocurrencies. The stolen funds have been transferred to multiple addresses and swapped for ETH, BNB, and other coins. Despite the substantial losses, BingX has described the incident as a 'minor asset loss' and assured users that victims will be fully compensated. The exchange has temporarily paused asset transfers and withdrawals as it addresses the security breach. The incident, initially reported as 'wallet maintenance,' affected multiple EVM platforms and was detected on September 19.