BingX, the popular cryptocurrency exchange, has announced that withdrawal services on the platform for certain digital assets will resume on September 21, 2024. Tether (USDT), Circle (USDC), Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and Solana (SOL) withdrawals will be activated first, followed by withdrawal services for other tokens and digital assets within two weeks.

BingX has informed customers that withdrawal requests have been canceled and must be resubmitted. BingX Product Manager Vivien Lin explained that most of the losses in the hack were prevented by cold storage and that $10 million were frozen. BingX stated that it is investigating the incident in cooperation with security firms such as SlowMist and Chainalysis.

The hack took place on September 20, and the losses, which were initially described as "minor," have reached $52 million. It was stated that BingX can cover all losses with its sufficient reserves. Share your thoughts and questions in the comments.