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BingX Hacked, $43M in Crypto Stolen as of September 20

Sep 20, 2024, 03:40 AM

BingX, a Singapore-based cryptocurrency exchange, has reportedly been hacked, resulting in the theft of digital assets worth between $20 million and $52 million. The attack, which occurred on September 19, 2024, involved the exploitation of BingX's hot wallets. The stolen assets include a variety of cryptocurrencies such as USDT, USDC, WUSD, BTCB, ZRO, and others. The hackers have been actively liquidating the stolen assets, converting them into ETH, BNB, and other coins, and distributing them across multiple addresses. BingX initially described the incident as 'wallet maintenance' but later confirmed a 'minor asset loss.' The exchange has temporarily paused asset transfers and withdrawals and assured users that victims will be fully compensated. The total loss is estimated to be around $43 million as of September 20.