On Friday, blockchain security firm PeckShield flagged a suspicious $13.6 million fund outflow from BingX. The firm confirmed four hours later that the exchange had been hacked for $26.68 million in assorted cryptos, which Lookonchain reported included over 360 altcoins.
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BingX was compromised on September 20 at around 4 a.m. Singapore time when the exchange’s technical team detected “abnormal network access,” suspecting a hacker had breached its hot wallet. While the platform initiated its emergency plan “immediately,” security experts flagged a significant loss from the attack.
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Crypto exchange BingX commits to a user compensation plan following a multimillion-dollar hack on its hot wallet
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