Singapore-based crypto exchange BingX experienced a hack that resulted in over $50 million worth of funds being stolen from its hot wallets. The breach occurred on September 20 and involved the theft of several cryptocurrencies, including USDT, WUSD, USDC, BTCB, and ZRO. BingX's technical team activated its emergency plan, which included halting withdrawals and securing assets. Most of the exchange's customer assets were held in cold wallets and were unaffected by the hack. The stolen funds have been traced to two wallet addresses, and some of the funds have already been swapped to ETH and transferred through decentralized exchanges. Analysts estimate that the losses could exceed $52 million. BingX plans to compensate users for any losses and will resume withdrawals within 24 hours. The exchange's trading services remain fully operational, and its overall security has not been compromised. The hack follows a pattern seen in attacks attributed to North Korea's Lazarus Group.



Other News from Today