Losses from scams and hacks in Q3 declined by 40% compared to the previous year, but CEX hacks still pose a problem for the industry.
]]>At around 4 AM on September 20 (Singapore time), BingX’s technical team detected unusual network activity, suggesting a potential hacker attack targeting the platform’s hot wallet. In response, an emergency plan was swiftly implemented, which included suspending withdrawals and urgently transferring assets to protect user funds. While some assets have been lost, the amount is relatively small and is still being calculated. To safeguard user funds, BingX employs a layered asset management system. The majority of assets are stored in cold wallets, with only a small portion kept in hot wallets to facilitate withdrawals. As a precaution, all withdrawals have
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Bingx said it has resumed withdrawals for “mainstream” cryptocurrencies including bitcoin, tether and ethereum among others. However, the exchange has warned of potential delays due to security reviews. The crypto exchange said it will gradually restore withdrawal services for other cryptocurrencies but has canceled pending requests. The exchange’s chief product officer expressed concern about the […]
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Monetary losses from the BingX hack were initially reported as totaling $26 million, but the figure has since swelled to $52 million.
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Asian crypto exchange Bingx suffered a hacking attack, leading to a suspension of withdrawals and an estimated loss of $52 million. Bingx claims the stolen amount is minimal because it primarily stores users’ assets in cold wallets, which were not targeted by the hackers. A security firm believes a North Korea-linked hacking group, Lazarus Group, […]
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Crypto exchange BingX’s product chief Vivien Lin has confirmed there was a hack and a “minor asset loss,” which is still being calculated.
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Chelsea Football Club and their principal partner, Bingx, say they have taken their partnership to the next level. Bingx, a leading cryptocurrency exchange, has transitioned from being a sleeve partner to becoming the official training wear partner for Chelsea’s men’s team. Fans worldwide will now see the Bingx logo on the team’s training apparel for […]
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Several cryptocurrency firms are stepping up to support flood victims in Southern Brazil. For example, Okx has partnered with Brazilian cryptocurrency exchange Foxbit to match donations of up to $10,000 to the “Ajude o Rio Grande do Sul” emergency campaign, channeling funds to non-governmental organizations (NGOs) in the affected areas. Similarly, Bingx is doubling cryptocurrency […]
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PRESS RELEASE. BingX, the Singapore-based crypto exchange, is pleased to announce the launch of a new category to optimise its trading system for the Shanghai Ethereum upgrade. This move is aimed at helping traders looking to make a profit during the Ethereum upgrade that is expected to arrive on April 13th. The Shanghai Ethereum upgrade […]
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Amid the crackdown against Tornado Cash, associated addresses, contributing developers, and anyone who uses the mixing platform, the project’s governance token called TORN has shuddered in value. TORN is an ERC20 with a fixed supply that is leveraged for governance proposals and voting. During the last seven days, the Tornado Cash governance token has lost […]
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