Bitcoin

Ethereum

Reef

Neiro Ethereum

BingX, a prominent crypto exchange, has suffered a $42 million <a href="https://optimisus.com/news/crypto-news/indodax-exchange-loses-15-million-in-crypto-to-hackers/" rel="noopener noreferrer nofollow">attack</a>, leading to the theft of more than 360 cryptocurrencies, which were subsequently exchanged for Ethereum and Binance Coin.The breach was initially identified by the blockchain security company PeckShield. The total <a href="https://optimisus.com/market/market-news/after-2-years-hacker-converts-40-million-dai-into-eth-amid-market-turmoil/" rel="noopener noreferrer nofollow">misappropriated</a> assets comprised stablecoins such as USDT, USDC, WUSD, Bitcoin, and several other tokens.Vivien Lin, Chief Product Officer of BingX, confirmed the breach and assured users that the company has promptly implemented measures to prevent more harm. She underscored that the exchange&#39;s hot wallet had been compromised and that withdrawals were suspended as part of the emergency measures.BingX pledged to reimburse the entire sum of the misappropriated money from company reserves and to reinstate withdrawals within 24 hours to restore user trust.This event exemplifies a broader trend of escalating breaches on crypto platforms, underscoring security weaknesses inside the sector.

BingX suffers a $42 million hack, adding to a series of crypto security breaches this week

Optimisus

Other articles published on Sep 20, 2024

CFTC Appeals Decision Favoring Kalshi On Election Betting Contracts

Immediate Wise Review 2024: Scam Or Legit Trading Platform? – Quick Facts!

US Spot Bitcoin ETFs See $158.3 Million in Net Inflows on September 19, Led by ARK Invest and Fid...

Zilliqa Price Prediction 2024, 2025 – 2030: Will ZIL Coin Price Hit $0.02?

Could This Altcoin See 14,000% Growth by 2025? Top Analysts Weigh In!

What Does Bitcoin Dominance Tell Us? Why Is It Increasing? Here’s the Latest Report

Join our free newsletter for daily crypto updates!