Singapore-based cryptocurrency exchange BingX lost an estimated $52 million in a suspicious attack on September 20, double the previously reported $26 million loss.

Blockchain security firm PeckShield identified an Ethereum wallet linked to the attack, which it said had received $26.7 million worth of assets from BingX.

“The total loss is increasing as more wallets are detected. Initial estimates may be incomplete, but updates from forensic firms provide a clearer picture,” said Hakan Unal of Cyvers Alerts.

BingX said it will fully recover the user losses. Such attacks target centralized crypto exchanges in Asia. Share your thoughts in the comments.