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BingX — a popular cryptocurrency exchange — has announced that withdrawal services on the platform will resume on September 21, 2024, for some digital assets.
According to the exchange's announcement, withdrawals for Tether 's US dollar stablecoin (USDT), Circle 's US dollar stablecoin (USDC), Bitcoin (BTC), Ethereum (ETH), TRON (TRX), and Solana (SOL) will be restored first, followed by withdrawals for other Token and digital assets over the next two weeks.
The exchange has informed customers that deposit services will also resume in the coming weeks and announced that withdrawal requests submitted before the withdrawal service disruption have been canceled and must be resubmitted.
In an update Chia with TinTucBitcoin, Ms. Vivien Lin, BingX’s product manager, explained that the financial damage from the hack was minimized thanks to the majority of customer funds being cold stored.
Ms. Lin also said that $10 million of the stolen funds have been frozen. Furthermore, the exchange is working with SlowMist, Chainalysis, and other onchain security firms to investigate the incident and recover the funds.
Ms. Lin reassured customers that any potential losses could be covered by the exchange’s ample reserves and highlighted BingX ’s six-year history as a reputable service provider.
BingX hack
On September 20, BingX revealed that the exchange was hacked. The attack occurred at around 4:00 a.m. Singapore time when the exchange detected unusual withdrawals from its hot wallet.
The damage was initially described by Lin as “small,” but the amount stolen later increased to $52 million.
Cryptocurrency hacks and exploits in September
On September 16, DeFi platform Delta Prime announced that it had suffered a $6 million breach. According to a spokesperson from security firm Cyvers, the Delta Prime attacker took control of Delta Prime’s admin wallet, which controls proxy contracts, and then altered those contracts to drain liquidation on the Arbitrum (ARB) network.
More recently, domain registrar Ethena was hacked in a Front-End attack, causing the site to be vandalized and leading Ethena Labs to disable the site to prevent losses.
