$43 Million Stolen in Major Security Breach
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DESC: This article describes how user funds were stolen in the BingX exchange hack. The amount of damage in the BingX hack is $43 million. BINGX HACK On Friday morning, September 20, 2024, unknown hackers hit BingX for an initial estimated $43 million. Singapore-based crypto exchange BingX suffered a security breach of its hot wallet system, resulting in a significant loss of funds. The hack caused BingX to lose at least $43 million. Today, it was announced that the hot wallet exchange of the centralized exchange BingX was attacked by hackers: Figure 1 – Official statement of the exchange on the social network X.com According to Chief Product Officer Vivien Lin, the technical team detected suspicious network access around 4 o’clock Singapore time, indicating a hacker attack on the BingX hot wallet. A contingency plan to transfer assets and suspend withdrawals was activated. Currently, withdrawals are temporarily suspended for verification and security enhancements. Technical support claims that withdrawals will resume within 24 hours, and a plan is being prepared to compensate for lost funds: Figure 2 – Product director Vivian Lin’s statement about the X.com social networking site The amount of damage caused by the BingX hack According to statements from top officials of the centralized platform, the stolen funds were “insignificant and will be refunded”. According to Hot Wallet’s ArbitrageScanner.io: Figure 3 – BingX exchange hot wallet (0xa88) Withdrawals from the alleged hacker’s wallet were recorded: Figure 4 – Receipts to the hacker’s wallet (0x940) The hacker immediately sold part of the funds received through decentralized sites: Figure 5 – Swipes of the hacker’s stolen wallet funds (0x940) The link to the hacker’s wallet can be found here The hacker is currently holding funds at the BingX Deposit address: Figure 6 – Wallet Transfer (0x940) The amount of money…
Filed under: News - @ September 23, 2024 3:21 pm