{"id":17122,"date":"2024-09-20T10:16:17","date_gmt":"2024-09-20T07:16:17","guid":{"rendered":"https:\/\/forklog.com\/en\/bingx-cryptocurrency-exchange-hacked-losses-exceed-43-million\/"},"modified":"2024-09-20T10:16:17","modified_gmt":"2024-09-20T07:16:17","slug":"bingx-cryptocurrency-exchange-hacked-losses-exceed-43-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bingx-cryptocurrency-exchange-hacked-losses-exceed-43-million\/","title":{"rendered":"BingX Cryptocurrency Exchange Hacked, Losses Exceed $43 Million"},"content":{"rendered":"<p>On the morning of September 20, hackers breached the hot wallet of the cryptocurrency exchange BingX. According to analysts from PeckShield, potential losses exceed $43 million. Withdrawals have been halted, and users are urged to revoke approvals for active smart contracts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? Security Update ?<\/p>\n<p>At 4 AM (SGT) on Sept 20, our team detected abnormal access to the BingX hot wallet, suspecting a hacker attack. We immediately initiated an emergency response, including asset transfers and pausing withdrawals.<\/p>\n<p>? Only minor losses so far, and we\u2019ve got\u2026 <a href=\"https:\/\/t.co\/7CFsqF5W20\">https:\/\/t.co\/7CFsqF5W20<\/a><\/p>\n<p>\u2014 BingX (@BingXOfficial) <a href=\"https:\/\/twitter.com\/BingXOfficial\/status\/1836951737317609534?ref_src=twsrc%5Etfw\">September 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Researchers report that the majority of the funds were siphoned from Ethereum ($17.9 million) and BNB Chain ($9.3 million). Other networks affected include <a href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1pOoTZwIFrLY2iE5SW9AWmXb4y3TD7mdUbjNWXWzfKFM\/edit\">Optimism, Arbitrum, Polygon, Base, Avalanche, Fantom<\/a>, and others. The stolen assets are being exchanged for ETH and BNB by the hackers.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/BingX?src=hash&#038;ref_src=twsrc%5Etfw\">#BingX<\/a> has been hacked with loss of ~$26.68M worth of cryptos. The stolen funds mainly outflowed from <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> &#038; <a href=\"https:\/\/twitter.com\/hashtag\/BNBChain?src=hash&#038;ref_src=twsrc%5Etfw\">#BNBChain<\/a>. <br \/>The hacker has already swapped most of the stolen assets for ~4,526 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> &#038; 7,864.7 <a href=\"https:\/\/twitter.com\/search?q=%24BNB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BNB<\/a>.<br \/>Check the details of stolen assets here:\u2026 <a href=\"https:\/\/t.co\/4m2OfxTpsV\">pic.twitter.com\/4m2OfxTpsV<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1836977299746381854?ref_src=twsrc%5Etfw\">September 20, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Preliminary estimates suggest total losses <a href=\"https:\/\/x.com\/PeckShieldAlert\/status\/1836998485364650161\">exceed $43 million<\/a>.<\/p>\n<p>BingX has suspended withdrawals and promises to resume them within 24 hours.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe employ a multi-tier management system where most assets are stored in cold wallets, with only a minimal portion kept in hot wallets for withdrawals,\u201d said BingX&#8217;s Chief Product Officer, Vivien Lin, on X.<\/p>\n<\/blockquote>\n<p>According to her, the loss amount is being calculated, but it is \u201cminor.\u201d The team is already working on a compensation plan.<\/p>\n<p>In the latest <a href=\"https:\/\/x.com\/BingXOfficials\/status\/1837015508803055993\">announcement<\/a>, BingX urged all users to immediately revoke approvals for active smart contracts to prevent further losses.\u00a0<\/p>\n<p>Earlier, on September 19, developers of the trading Telegram bot Banana Gun confirmed \u201cunauthorized transfers\u201d from the wallets of a limited number of users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the morning of September 20, hackers breached the hot wallet of the cryptocurrency exchange BingX. According to analysts from PeckShield, potential losses exceed $43 million. Withdrawals have been halted, and users are urged to revoke approvals for active smart contracts. ? Security Update ? At 4 AM (SGT) on Sept 20, our team detected [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,44],"class_list":["post-17122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-cybercrime"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=17122"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/17122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/17121"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=17122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=17122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=17122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}