Top Urgent-Bilaxy exchange Hacked Notice!!

[Imran232]

⚠️⚠️Pls note Bilaxy Hot wallet was hacked, ❌pls DON't send any funds to your bilaxy accounts again. We are racing with the time to checking and fixing. Pls wait for further Notice.

Thanks for your support.

Bilaxy Team

[davis196]

Thanks for letting us know OP,but there are some things to take into consideration:
1.Is this the right forum to post this topic.
2.I have never heard anything about this Bilaxy crypto exchange.It must be some really small local crypto exchange,which doesn't have millions of users.Such small crypto trading platforms usually have very poor security.
I wonder why would anyone choose such platform,instead of the big and reputable crypto exchanges.Perhaps there are lower trading fees or maybe some bonus going on.

[Woodie]

The past few months has been bad for several exchanges as hackers continue making them the target, this is sad news for the exchange, hope they can coordinate with other exchanges so that if hackers try exchanging those coins for other coins they can be confisticated and returned to the true owners. But is it possible to move a large amount of coins without someone authorizing the transfer of coins.

[Kakmakr]

The past few months has been bad for several exchanges as hackers continue making them the target, this is sad news for the exchange, hope they can coordinate with other exchanges so that if hackers try exchanging those coins for other coins they can be confisticated and returned to the true owners. But is it possible to move a large amount of coins without someone authorizing the transfer of coins.

What other Crypto wallet providers and Exchanges has been hacked in the last couple of months? You cannot identify coins that was hacked, because the hackers push those coins through Mixer services.

Also, who is going to "authorize" coin transfers? Have you ever seen anyone complaining that their coin transfer has been "waiting for approval" ....or are you just sucking things out of thin air to pump your post count? (Bitcoin has no centralized authority like a Bank that "authorize" coin transfers... it only happens when you use centralized (regulated) third parties.)  

[cheezcarls]

I was about to because of trading a certain coin until I read this thread. Whoa good thing that I have never deposited some coins there so thanks for the notice. This is why it’s never safe for us to store some cryptos in exchanges. No matter how high the security is, the hackers are just one step ahead to innovate in breaching the security protocols.

[masterrex]

This is not good because it was repeatedly happening again and again, But honestly speaking, sometimes I'm doubting and suspecting that it was an inside job, because of the timing  Anyway I'm not saying that all of those so-called hacking incidents is an inside job, it was only my personal observation, in the previous weeks' Polygon was hacked now it's Bilaxy and then what was next?

[bittraffic]

This is not a popular exchange so it's not such a big loss. I've read they don't ask KYC so privacy concern users must have been there but I don't think this to affect the market though.

This is not good because it was repeatedly happening again and again, But honestly speaking, sometimes I'm doubting and suspecting that it was an inside job, because of the timing  Anyway I'm not saying that all of those so-called hacking incidents is an inside job, it was only my personal observation, in the previous weeks' Polygon was hacked now it's Bilaxy and then what was next?

It's not surprising anymore in crypto to see exchanges being hacked. What is surprising is if an exchange refunded the stolen coins from the users which binance had done in the past.

[The Cryptovator]

The thread doesn't belong to the Bitcoin Discussion board, please move it to the exchange section from the lower left. Reported by the way, hope moderators will move either.

As far as we can see the crypto market run to bull then hackers become active to hack crypto platform. So this isn't new for us, especially for a centralized cryptocurrency platform. Although I am not well-familiar with that exchange but worried about the user's funds. Because we don't know if it's real hacking or just a drama to shutting down the exchange for exit scam without refunding users. Hacking exchange means defeat of the exchange and it's their responsibility. Exchange should refund user's funds from their reserve and that's what we learned from reputable exchanges. Let's see what's going on.

[SFR10]

I wonder why would anyone choose such platform,instead of the big and reputable crypto exchanges.

Based on some of the comments from the above tweet, they're one of those exchanges that literally lists any coin.

What other Crypto wallet providers and Exchanges has been hacked in the last couple of months?

You can see most of the hacked exchanges in the following lists:
^{- IIRC, it's missing one/two of the recent hacks.}

• CryptoSec - Exchange hacks
• HedgeWithCrypto - Exchange hacks

On the latest update ^[archived], they didn't even mention anything about refund ^{[I know it takes time before they could sort everything out but still, not a good sign]}.