Prime

Rocky

Delta

Ethena

BingX, a well-known cryptocurrency exchange, announced that it will restart withdrawal services on September 21, 2024, for select digital assets following the hack. Customers can expect to withdraw Tether’s USDT, Circle’s USDC, Bitcoin, Ethereum, Tron, and Solana first. Other tokens will follow over the next two weeks. 
In their announcement, BingX also mentioned that deposit services will restart in the coming weeks. Customers who submitted withdrawal requests before the service disruption will need to resubmit them. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img loading="lazy" decoding="async" width="593" height="502" src="https://www.cryptotimes.io/wp-content/uploads/2024/09/BingX-to-Restart-Withdrawals-for-Select-Cryptos-on-Sept-21.png" alt="BingX to Restart Withdrawals for Select Cryptos on Sept 21" class="wp-image-202486">
 <figcaption class="wp-element-caption">
 Source: <a href="https://x.com/BingXOfficial/status/1837302886218485767" target="_blank" rel="noreferrer noopener">X</a>
 </figcaption>
 </figure>
</div> 
Vivien Lin, the chief product officer at BingX, explained that the exchange’s losses from a recent hack were reduced because most client funds were kept in cold storage.&nbsp; 
So far, $10 million in stolen funds have been frozen, and the exchange is collaborating with security firms like SlowMist and Chainalysis to investigate and recover the lost assets. 
The hack, which occurred on September 20 around 4:00 AM Singapore time, involved abnormal withdrawals from a hot wallet. Initially thought to be minor, the <a href="https://www.cryptotimes.io/2024/09/20/singapores-bingx-crypto-exchange-suffers-50-million-hack/" target="_blank" rel="noreferrer noopener">losses quickly escalated to $52 million</a>. 
This month has seen other crypto security incidents as well. For instance, the decentralized finance platform <a href="https://www.cryptotimes.io/2024/09/16/defi-protocol-delta-prime-loses-6m-in-admin-key-exploit/">Delta Prime faced a $6 million breach</a>, the Ethena domain registrar suffered a front-end attack, and WazirX lost around $234 million in a hack. 
BingX reassures users that it has sufficient reserves to cover potential losses, emphasizing its six-year history as a trusted service provider.

BingX to Resume Withdrawals for Selected Crypto on Sep 21

The Crypto Times

Other articles published on Sep 21, 2024

Ethereum Billionaire’s Top 5 Picks for 2024 – XRP and Cardano Included!

Chainlink Holders, Be Careful! Massive LINK Unlocks Ongoing

Arthur Hayes Sells $4.4 Million in $PENDLE Holdings

Elon Musk made the worst financial decision of his life when he bought Twitter

Legendary Trader John Bollinger Breaks Silence on Bitcoin (BTC) Price Action: Details

Top Bitcoin Gambling Sites for 2024: Metaspins, Betpanda, CoinPoker, BC Game, and Betplay

Join our free newsletter for daily crypto updates!