BingX Hacked, Up to $52M in Crypto Stolen, Says Vivien Lin

Sep 20, 2024, 04:25 AM

BingX, a Singapore-based cryptocurrency exchange, has been hacked, resulting in significant asset losses. The breach, which occurred on September 20, saw an estimated $43 million worth of digital assets stolen from the exchange's hot wallets. The stolen assets include over 360 altcoins, with substantial amounts of USDT, USDC, and BTCB among others. The hacker has been actively liquidating the stolen assets, converting them into ETH, BNB, and other cryptocurrencies. BingX has temporarily suspended withdrawals and asset transfers to ensure security. Despite the significant losses, BingX has described the incident as a 'minor asset loss' and assured users that they will be fully reimbursed. Vivien Lin, BingX's chief product officer, confirmed the hack and mentioned that the exchange is conducting 'temporary maintenance' to address the issue. Reports indicate that the attack affected multiple EVM platforms, with losses potentially reaching up to $52 million.