BingX Suffers Security Breach, as Hackers Steal $43 Million
Singapore-based crypto exchange BingX is the latest victim of a security breach, losing over $43 million in crypto assets to hackers.
Security firm PeckShield called attention to the exploit in a post on X this morning. The platform alerted the public to suspicious activity on BingXâs hot wallet, where a large amount of funds was moved to a new address.
BingX confirmed the activity in a disclosure, stating it has enabled an emergency response, which involved moving its assets to a cold wallet.
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At 4 AM (SGT) on Sept 20, our team detected abnormal access to the BingX hot wallet, suspecting a hacker attack. We immediately initiated an emergency response, including asset transfers and pausing withdrawals.
BingX claimed that âminor lossesâ were incurred from the hack, noting that its team was working to prevent further damage.
The exchange also stated that it has temporarily paused withdrawals, and its platform has gone down for 24-hour maintenance.
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