Crypto News: BingX Suffers $26 Million Security Breach
Crypto News: BingX Suffers $26 Million Security Breach
The crypto exchange BingX reportedly lost over $26 million in various digital assets early Thursday morning. This incident adds to a troubling week for crypto platforms as multiple hacks continue to expose vulnerabilities within the sector.
PeckShield, a blockchain security company, initially detected suspicious transactions at approximately 00:37 UTC. Initial reports suggested an outflow of around $13.6 million.
BingX Has Paused Withdrawals
Following this, several crypto security platforms conducted a more thorough examination and confirmed that BingX had been compromised. On-chain analysis firm Lookonchain detailed the stolen assets, which included over 360 different altcoins. The stolen funds were swiftly transferred to the wallet address '0xF7e8' before being exchanged primarily for Ethereum (ETH) and BNB.
Detailed Breakdown of the Stolen Assets
- 4.44 million USDT ($4.44 million)
- 1 million WUSD ($1 million)
- 608,660 USDC ($608,660)
- 9.38 BTCB ($590,000)
- ... along with numerous other tokens making up the substantial remainder.
In response to the breach, BingX's Chief Product Officer, Vivien Lin, confirmed the hack and announced the suspension of all withdrawals to mitigate further risks.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.