**News Flash: BingX Hack Losses Surge to $52M**

Singapore-based crypto exchange BingX has reported a staggering $52 million loss from a suspected hack on September 20, doubling initial estimates. Blockchain security firm PeckShield first identified an Ethereum wallet linked to the attack, which received $26.7 million from BingX. Further investigations revealed more extensive damage across multiple blockchain networks.

Hakan Unal from Cyvers Alerts noted that initial loss estimates were incomplete, but updated forensic reports now show a clearer picture. BingX has downplayed the incident, calling it "minor" and assuring users that all losses will be covered by the exchange's capital. Security firms have managed to freeze about $1 million of the stolen funds.

This incident is part of a larger trend of cyberattacks on Asian crypto exchanges. Indonesian exchange Indodax lost $20.58 million on September 10, Indian exchange WazirX was hit for $234.9 million in July, and Japan’s DMM Bitcoin suffered a $305 million breach in May. Security experts attribute these attacks to North Korea’s Lazarus Group.