Exchange BingX confirms hacking incident, wallets under maintenance, losses will be fully compensated

The cryptocurrency exchange BingX was reportedly hacked on September 20th, with potential losses estimated to exceed tens of millions of US dollars, according to cybersecurity account @De_FiSecurity. BingX's Product Manager, Vivien Lin, later confirmed the news but has not yet confirmed the exact amount of the loss. Lin only mentioned that since the majority of the assets were stored in cold wallets, only a portion of the funds were lost due to the hack of the hot wallet. Further details are still under investigation.

BingX Chief Product Officer Vivien Lin: Minimal Loss, Full Compensation Promised

Vivien Lin stated: "Around 4 a.m. Singapore time on September 20, our technical team detected abnormal network access and suspected a hack on BingX's hot wallet. We immediately initiated an emergency plan, including the emergency transfer of assets and suspension of withdrawals. The asset loss is minimal but the amount is still being calculated.

To protect user assets, we utilize a tiered management system where the majority of assets are stored in cold wallets, with only a small portion stored in hot wallets for withdrawals. To ensure security, withdrawals have been temporarily suspended while we conduct emergency checks and reinforce wallet services. We apologize for any inconvenience caused. Withdrawals are expected to resume within 24 hours at the latest.

BingX and the development team apologize for the disruption caused. Our mission is to provide a seamless and trustworthy trading environment. We are working on a compensation plan, which will be announced soon. Thank you for your understanding and continuous support."

Vivien Lin further stated that BingX will fully compensate for the losses with its own funds, ensuring the total loss is minimal and controllable. This incident will not affect our ongoing business operations. Under BingX's tiered asset management structure, user assets are secure.

BingX Enters Wallet Maintenance: Estimated 24 Hours

An announcement indicates that due to temporary maintenance of the wallet system, there may be delays in the crediting and withdrawal times. These services are expected to gradually resume within 24 hours.

DeFiHackLabs Observation: Approximately $45.3 Million Outflow

According to cybersecurity community DeFiHackLabs' statistics, BingX assets have experienced an outflow of approximately $45.3 million worth of digital assets. Among them, WUSD has already been frozen in the hacker's wallet with 1 million WUSD frozen, totaling 1,019,498.065677 WUSD.

The hacker has used at least ten wallets to store the stolen funds:

• 0xf7e8033366166f92eb477b7b38e0d47d47b43326
• 0xb0146aec3593410c8307b570af69adf4d74678b3
• 0x940362b46faf7df48af1c8989d809f50466b5fca
• 0x1Dd7dAf089C16856155FeFd7e2170966bb6b3AEE
• 0x719981cf7d1a1dc681a1cf0c6b1eeee090d0fed6
• 0xf26e64ef4300ca027d2ffedd7d765d7a3906091c
• 0xb77a4a9678315775c4ba89f18f84f87538e748f5
• 0x63dc352ddfc17aa04edac47ce36e186c1e54b02c
• 0x49284f0Ab5098d7effb3392124903C081D1B9f7E
• 0xcfc14fa81226074036622976d95897ff84b58d66