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BingX — a popular cryptocurrency exchange — has announced that withdrawal services on the platform will resume on September 21, 2024 for certain digital assets.
According to the exchange's announcement, withdrawal services of Tether 's stablecoin USDT , Circle 's stablecoin USDC , Bitcoin ( BTC), Ethereum (ETH), TRON (TRX), and Solana (SOL) will resume first, followed by withdrawal services of other Token and digital assets in the next two weeks.
The exchange informed customers that deposit services will also resume in the coming weeks and said that withdrawal requests submitted before the withdrawal service interruption have been canceled and must be resubmitted.
In an update Chia with TinTucBitcoin, Vivien Lin, product manager at BingX, explained that monetary losses from the hack were minimized thanks to the majority of customer funds being isolated by cold storage.
BingX ’s leader also said that $10 million in 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.
Lin reassured customers that any potential losses could be covered by the exchange’s “sufficient reserves,” citing BingX ’s six-year history as a reputable service provider.
BingX Hack
On September 20, BingX exchange said it had been hacked. The attack occurred around 4am Singapore time when the exchange detected unusual withdrawals from a hot wallet.
The initial losses were described by Lin as “small” but later ballooned to $52 million in stolen funds.
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 for cybersecurity firm Cyvers, the Delta Prime hackers compromised Delta Prime’s admin wallet, took control of proxy contracts, and then altered those contracts to drain Liquidity Pool on the Arbitrum (ARB) network.
Most recently, domain registrar Ethena was hacked in a front-end attack that compromised the website and led to Ethena Labs disabling the website to prevent further damage.
