Bitcoin

BingX, a Singapore-based crypto exchange, confirmed that one of its hot wallets was hacked on Friday morning. Over 360 altcoins worth about $26.68 have been hacked. The hacker is said to have transferred the stolen funds to Ethereum and Binance.According to an official announcement on their X profile, the exchange stated that the team detected abnormal access to the hot wallet and suspected a hacker <a href="https://cryptotale.org/fbi-reports-5-6-billion-lost-in-2023-crypto-fraud-cases/" rel="noopener noreferrer nofollow">attack</a>. Following the breach, withdrawals were paused, and assets were transferred. The exchange stated that only minor losses have been detected. It added that most of the assets were safe in cold wallets, and only a small portion was affected in the hot wallet.The chief product officer, Vivien Lin, <a href="https://twitter.com/Vivien_BingX/status/1836940851873992845" rel="noopener noreferrer nofollow">stated </a>in her X platform that the technical team detected suspicious activity around 4 AM SGT. Following the breach, an emergency plan was executed, which implied transferring assets and suspending withdrawals.She added that the user assets are safe and protected under a layered asset management system. Further, she stated that the withdrawals would be restored within 24 hours. Lin reinforced that the exchange&#39;s mission to provide a seamless and trusted trading environment remains firm.<a href="https://cryptotale.org/bingxs-hot-wallet-hacked-withdrawals-temporarily-suspended/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

BingX's Hot Wallet Hacked; Withdrawals Temporarily Suspended

CryptoTale

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