BingX has been hacked beware

[cryptoaddictchie]

Just now the exchange BingX was hacked and been reported by BingX.

🚨 Security Update 🚨

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.

🔒 Only minor losses so far, and we’ve got it covered. Most assets are safe in cold wallets, with only a small portion affected in the hot wallet.

To protect user funds, we’re extending recharge & withdrawal times while reinforcing security. Coins will be processed within 24 hours. We’re sorry for the inconvenience and appreciate your understanding! 🙏

Its quite a huge scene now on X a lot of post regarding BingX and some users reported their funds are now locked until the matter has been solved. One of my friend got $1.5k balance has been frozed for now and waiting for opening of withdrawals.

Suspicious wallets of the hackers.

Suspicious wallets sending all kinds of crypto to Kyberswap is :

0xF7e8033366166f92eb477B7B38e0D47d47b43326
0x940362B46faf7DF48Af1c8989d809F50466B5fCA
0x719981cf7D1a1dC681a1cf0C6B1eeeE090D0FEd6

https://etherscan.io/address/0xf7e8033366166f92eb477b7b38e0d47d47b43326

Sources:
https://x.com/martypartymusic/status/1836927892187394063?t=Xf4OSgcOKncfTkY8CC0kWw&s=19

https://x.com/BingXOfficial/status/1836951737317609534?t=GjOot8ITccwoqROpCRqcag&s=19


Beware everyone. As always remember the tagline "not your keys not your coin" so put out only few funds on your cex accounts.

[Charles-Tim]

It is an exchange that was hacked which makes this to belong to exchanges. Create topics like this on exchange board next time, not beginners and help.

You first brought this to forum but another user later created another thread on exchange board about it. It might not have happened if you posted this on the right board.


We should not leave coins on exchanges is the best approach about exchange hack. Exchange hack occurs frequently. It was just 9 days ago when Indodax was hacked, not BingX. WazirX is still finding it difficult to recover after it was hacked 60 days ago.

[SquirrelJulietGarden]

Just now the exchange BingX was hacked and been reported by BingX.

Some exchanges continue their operations after one or several hacks, do compensations to their users while some other exchanges die shortly after a hack or some hacks and some exchanges use hacks as reasons to shut down their platforms and disappear. They can use hack as a main reason for their exchange closure and it can be used as a reason for a scam exit too.

Exchange graveyard
Hacked Exchanges since 2011, last update in 2021. Many exchanges were hacked since 2021.
Reports on cryptocurrency exchange hacks.

As users, we have to secure our funds and avoid storing funds directly on centralized exchanges.

Move the thread to Exchanges board or lock it because there is another thread about BingX hack.
https://bitcointalk.org/index.php?topic=5509763.0

[hugeblack]

Beware everyone. As always remember the tagline "not your keys not your coin" so put out only few funds on your cex accounts.

Do not put any money on your cex accounts, use the exchange for trading purposes or withdraw your coins once the trades are done. Apparently the losses from this hack are limited and BingX will be able to overcome them but it may give a negative signal about the service.

[rachael9385]

Beware everyone. As always remember the tagline "not your keys not your coin" so put out only few funds on your cex accounts.

I think last week I came across this thread https://bitcointalk.org/index.php?topic=5508926.msg64519321#msg64519321
And the thread talked about an Indonesian exchange (indodex exchange) that was hacked and people (both trader and investors) lost their coins based on this same hack issue.
However, this is another warning that no CEX is safe anymore. And we shouldn't keep money (coins) on CEX because they are not safe, CEX can easily be compromise.

Suspicious wallets sending all kinds of crypto to Kyberswap is :
0xF7e8033366166f92eb477B7B38e0D47d47b43326
0x940362B46faf7DF48Af1c8989d809F50466B5fCA
0x719981cf7D1a1dC681a1cf0C6B1eeeE090D0FEd6
https://etherscan.io/address/0xf7e8033366166f92eb477b7b38e0d47d47b43326

Since their is a suspicious account, they should try and investigate more and rectify the issue then refund people money so that they can gain back their trust from their customers.

[un_rank]

Since their is a suspicious account, they should try and investigate more and rectify the issue then refund people money so that they can gain back their trust from their customers.

No one should be trusting an exchange.
Bitcoin was designed to not require user trust in centralized services like exchanges. Keep your funds in a wallet you hold the keys too. Use exchanges to trade and never have funds stored there beyond the duration of the trade.

- Jay -

[Orpichukwu]

Beware everyone. As always remember the tagline "not your keys not your coin" so put out only few funds on your cex accounts.

Do not put any money on your cex accounts, use the exchange for trading purposes or withdraw your coins once the trades are done. Apparently the losses from this hack are limited and BingX will be able to overcome them but it may give a negative signal about the service.

Since hackers don't give warning of when they are to attack, even the time between when you want to trade and withdraw from the exchange, you can be affected by the hack if the exchange is being hit. 
 
There are also people who can't completely stay without leaving a penny in an exchange due to the kind of trade they are involved in; there is always an active open order that is yet to execute due to the price limit.

[JeromeTash]

Not surprising. I expect almost all centralized exchanges to get "hacked" at one point. But given the amount of money these exchanges hold. It wouldn't be surprising if the "hacks" were orchestrated by insiders or their very own employees.

Exchange graveyard

I used to love exchange graveyard, but they have since then reduced the frequency of updating defunct exchanges.

[The Cryptovator]

BingX was one of the popular exchanges for non-Kyc users. However, centralised exchange could be hacked anytime, and we have seen even Binance hacked a couple of times. But we just want to make sure users funds shouldn't be affected anyway. I am not a BingX regular user. But I think I have a shitcoin there, and the amount is too small. Nevermind, even if I don't get it back. But users funds should be safe. Keeping funds in a centralised exchange has become quite hard lately because of frozen accounts and hacking issues. Centralised exchange won't be trusted anyway. 

[batang_bitcoin]

Beware everyone. As always remember the tagline "not your keys not your coin" so put out only few funds on your cex accounts.

We'll remind everyone nonstop about this. I think that with every exchange's hacking incident, some are hiding the actual situation and they are not transparent with what actually happened to their hot/cold wallets. Whilst for BingX, they have mentioned that they'll do the SAFU for their customers that have been part of the lost fund. I'll give them that because that's what I have noticed for every news that we see about exchange's being hacked. They'll mostly denying that the customers funds are safe and untouched.

[albon]

Its quite a huge scene now on X a lot of post regarding BingX and some users reported their funds are now locked until the matter has been solved. One of my friend got $1.5k balance has been frozed for now and waiting for opening of withdrawals.

BingX published an update seven hours ago stating that it has resumed withdrawals for the BSC network and major currencies such as BTC, USDT (also on TRC20), USDC, ETH, SOL, etc. They are scheduled to resume the remaining withdrawals and deposits within the next one/two weeks. New withdrawal requests can be submitted starting today, and we hope that everything goes well for thiis platform's customers.

To read the full update, check the Source: https://support.bingx.com/hc/en-001/articles/37943788972057-Notice-on-Resumption-of-Withdrawal-Services

Keeping funds in a centralised exchange has become quite hard lately because of frozen accounts and hacking issues. Centralised exchange won't be trusted anyway.

That’s absolutely true. Honestly, my view of BingX has been pessimistic from the beginning,, and I didn t feel comfortable with it due to the many complaints that were being published about it and the annoying promotions being done by the shillers. Whether it’s this platform or other CEX platforms,  they are all susceptible to such incidents, which increases our certainty about separating our funds from them.

[cryptoaddictchie]

Apparently the losses from this hack are limited and BingX will be able to overcome them but it may give a negative signal about the service.

Seems they will handle it and took care but there will be some users get nervous due to that and might change choice of cex afterwards.

BingX was one of the popular exchanges for non-Kyc users. However, centralised exchange could be hacked anytime, and we have seen even Binance hacked a couple of times. But we just want to make sure users funds shouldn't be affected anyway. I am not a BingX regular user. But I think I have a shitcoin there, and the amount is too small.

Woah thanks for this info. I didnt know theres none KYC for users there. I havent tried out to use bingx but I might made since some of my tokens are listed there but with the issue maybe still thinking if its worth or just wait and use most commonly use one like binance and kucoin.

[Yettycrypto]

When things got tough, BingX went all out. They took control, secured everything in no time, and proved they can handle anything. And no users funds was lost, withdrawal started already from the exchange. Kudos to the exchange for the fast action put in place .

[Potato Chips]

Woah thanks for this info. I didnt know theres none KYC for users there. I havent tried out to use bingx but I might made since some of my tokens are listed there but with the issue maybe still thinking if its worth or just wait and use most commonly use one like binance and kucoin.

There were changes made about this couple of months ago. You now have to pass basic KYC in order trade. From what I understand, basic KYC is just filling out a form which may be doable for some folks though I believe it's only a matter of time before everyone will be required to do the typical ID + selfie combo just like what happened in several other CEXs.


Source: https://bingx.com/en/support/articles/4576854622361/

Also, heads up. Old addresses are naturally unusable anymore.

Please note that due to the wallet system's upgrade, the deposit addresses have changed, and old deposit addresses are no longer usable. Please go to your wallet and obtain the new deposit addresses as soon as possible. Accordingly, please update the addresses in other platforms or wallets to the new addresses promptly.

Yet another reason to always get the address off of exchanges or at least check with the platform first before depositing. I've heard of some people keeping exchange addresses in notes or something.

[yhiaali3]

There were changes made about this couple of months ago. You now have to pass basic KYC in order trade. From what I understand, basic KYC is just filling out a form which may be doable for some folks though I believe it's only a matter of time before everyone will be required to do the typical ID + selfie combo just like what happened in several other CEXs.

So I hate this exchange, I registered in it a while ago it was new and didn't ask for KYC and it was promoted in my country a lot because it's new and doesn't ban my country and offers many bonuses and doesn't ask for KYC.

I registered in BingX and I deposited, withdrew and traded without any problems, but after a short while it started asking for KYC, not only that but also banned my country, luckily I had already withdrawn my funds and I don't know if others were able to withdraw them or not.

So I don't trust any centralized exchange, and yes you are right it's just a matter of time before everyone is asked to do KYC.

[Odohu]

Ordinarily,  I don't like the exchange so there was no way I will put my money there when there are better options. Well, the advantage those of us in this forum have is that we already know the danger of centralised exchanges so anyone active here should have known that keeping funds on those exchanges is like handing your funds over to another person. The phrase "not your keys, not your coins" should always be kept on mind because it is like a guiding principle.

[Z-tight]

Yet another reason to always get the address off of exchanges or at least check with the platform first before depositing. I've heard of some people keeping exchange addresses in notes or something.

Yeah, some people do that, they save addresses of custodial services and sometimes they deposit funds without checking if the service in control of the address has changed it or not. If there was a change before the user deposited into the old address, they now have to lay a complaint to the service to deposit funds into the new address, all of this can be avoided if one copies their exchange address from the platform everytime.

So I don't trust any centralized exchange,

Me too, and it is better and safer to live that way.