đš BingX exchange hacked, losses up to $43 million!
Singapore's BingX exchange suffered a major security breach on Friday, resulting in a loss of nearly $43 million from its hot wallet, which may be one of the largest cryptocurrency attacks this year. This incident not only raises questions about the security measures of centralized exchanges, but also reminds us again of the importance of network security.
Blockchain security companies Peck Shield and De.Fi noticed a large number of abnormal fund transfers in BingX hot wallets. The cause was an abnormal access pattern at around 4 am Singapore time, after which BingX's technical team initiated emergency procedures, including suspending withdrawals for 24 hours and transferring assets to cold wallets.
BingX responded to this, saying that "the losses were small" and "most of the funds are safe in cold wallets." It also promised to use its own funds to fully compensate affected customers and emphasized its commitment to user security and transparency.
Although initial assessments estimated the loss at around $26 million, more research suggests hackers stole more than $43 million worth of various cryptocurrencies, including Ethereum (ETH), Binance Coin (BNB), and Tether (USDT).
In response, the cryptocurrency community expressed dissatisfaction with the exchange's initial response, believing that they did not realize the severity of the attack and were misled by their statements.
It is worth noting that similar attacks like BingX are not isolated incidents. Other exchanges, including Indodax in Indonesia and WazirX in India, have also suffered similar attacks in recent weeks. These incidents show that hackers are gradually targeting centralized exchanges.
đŹWhat do you think of the security breach of the BingX exchange? Do you think your crypto assets are trustworthy when placed on an exchange? Share your views in the comments section and discuss together!
