Singapore-based exchange BingX has suffered a serious security breach. According to PeckShield’s report, the total value of stolen assets was determined to be $26.68 million, and these assets were quickly converted into ETH and BNB. This incident once again highlights how vulnerable cryptocurrency exchanges are to security breaches. Such security breaches in the market undermine investor confidence and reduce interest in the cryptocurrency market in general. This poses a serious threat to the future of the sector.