Ethereum

Security

<div>
 On Friday morning, September 20, 2024, unknown hackers hit BingX for an initial estimated $43 million.&nbsp; 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:&nbsp;
 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.&nbsp;
 Currently, withdrawals are temporarily suspended for verification and security enhancements.&nbsp;
 Technical support claims that withdrawals will resume within 24 hours, and a plan is being prepared to compensate for lost funds:&nbsp;
 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”.&nbsp;
 According to Hot Wallet's ArbitrageScanner.io:
 Figure 3 - BingX exchange hot wallet (0xa88)&nbsp;
 Withdrawals from the alleged hacker's wallet were recorded:&nbsp;
 Figure 4 - Receipts to the hacker's wallet (0x940)&nbsp;
 The hacker immediately sold part of the funds received through decentralized sites:&nbsp;
 Figure 5 - Swipes of the hacker's stolen wallet funds (0x940)&nbsp;
 The link to the hacker's wallet can be found <a href="https://wallet.arbitragescanner.io/0x940362B46faf7DF48Af1c8989d809F50466B5fCA?network=ethereum" target="_self" rel="noopener noreferrer nofollow">here</a>&nbsp;
 The hacker is currently holding funds at the BingX Deposit address:&nbsp;
 Figure 6 - Wallet Transfer (0x940)&nbsp;
 The amount of money in the wallet that was transferred from the hacker's wallet is estimated at $16.5 million.
 Figure 7 - Balance of the wallet (0x1Dd) that received funds from the hacker's address&nbsp;
 You can view the wallet <a href="https://wallet.arbitragescanner.io/0x1Dd7dAf089C16856155FeFd7e2170966bb6b3AEE?network=ethereum" target="_self" rel="noopener noreferrer nofollow">here</a>&nbsp;
 The stolen funds were mostly from Optimism, Arbitrum, Ethereum and Binance smartchains, among others:
 Figure 9 - Portfolio value by wallet network (0x1Dd) according to ArbitrageScanner.io
 Total loss due to hacker attack was ~$43M
 Quotes on the BingX exchange
 The most significant impact of the hack was on low liquidity tokens:
 Figure 10 - Prices of low liquid tokens on the BingX exchange after the hacker attack
 In the crypto market, hacks and attacks are a regular occurrence, and no major exchange is immune.
 Examples include the incidents at OKX, which lost $140 million, and Binance, which lost $540 million. Such risks are inevitable, and companies build them into their security strategies.
 That is why most reputable exchanges keep the majority of their reserves in cold wallets that are not accessible in the online environment, which significantly reduces the risk of theft.
</div>

BingX Exchange Hacked: $43M Lost in Crypto Security Breach

Coinpaper.com

2024년 9월 23일에 게재된 다른 기사

Bitcoin’s Surge and BlackRock CEO’s Endorsement Fuel Bullish Altcoin Sentiment

Coinpedia Fintech News

Top 7 Cryptos Under $0.08 Ready to Jump by 20,000%!

Standard Chartered Enters UAE Crypto Market with Custody Services for Bitcoin and Ethereum

Fed Officials Address Interest Rates and Crypto

The Fed wants you dead, Bitcoin is Resistance: Balaji

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!