BingX Suspected Hack Results in $20M-$26M Fund Outflows Amid 'Wallet Maintenance', Funds Exchanged for ETH, BNB

Sep 20, 2024, 01:46 AM

BingX, a cryptocurrency exchange, is suspected of being hacked, resulting in significant fund outflows. Reports indicate that assets worth approximately $20 million to $26 million have been transferred to a hacker's address. The hacker sold various altcoin assets on the chain and transferred some assets to other addresses. Specific wallets involved in the suspicious outflows include addresses starting with 0xF7e8 and 0x9403, with one transaction exceeding $13.6 million. Some of the stolen funds were sent to Kyberswap. Users have reported that BingX's 'wallet maintenance' may be a cover for the hack. The stolen funds were exchanged for ETH, BNB, and other coins. According to Beosin Alert, funds were stolen across multiple EVM platforms. BingX has yet to issue an official statement addressing the breach.