BingX exchange is hacked, loss $26M

[tabas]

Are there Bing X users here? they've been hacked just recently with a whopping loss of $26M. It may not be that much for big exchanges but $26M is $26M. They said that they're going to compensate for any loss from the users affected by this hack. So this hack has happened while Bitcoin breaches $64k again.

𝗟𝗔𝗧𝗘𝗦𝗧: BingX will “fully compensate” for the losses from the hack on its hot wallet.

News: BingX confirms ‘minor’ losses amid panic over hot wallet movements

[Rikafip]

Are there Bing X users here? they've been hacked just recently with a whopping loss of $26M. It may not be that much for big exchanges but $26M is $26M.

I guess that was initial amont as I just saw the news (I was about to create a thread when I saw yours) and article mentioned $43 million loss and who knows, it may even increase.

#PeckShieldAlert Another $16.5M worth of cryptos has been drained from #BingX by 0x940362B46faf7DF48Af1c8989d809F50466B5fCA about 7 hours ago.
The stolen funds are currently parked at 0x1Dd7dAf089C16856155FeFd7e2170966bb6b3AEE, totaling 5.3K $ETH, 4.1K $BNB & 1.65M $MATIC.
We estimate the total loss to be over $43M.

They said that they're going to compensate for any loss from the users affected by this hack.

No worries, funds are SAFU. 

So this hack has happened while Bitcoin breaches $64k again.

I don't think that this will affect bitcoin price whatsoever as BingX is not a major player.

[Charles-Tim]

cryptoaddictchie created similar thread before you but he posted it on beginners & help which might not let you see that similar thread has been created about BingX hack that occurred recently. I posted this for people to avoid repetition. It would be good if this thread is locked.

BingX has been hacked beware

[ABCbits]

Are there Bing X users here?

I don't know, but you could ask user/account which accused shilling BingX[1].

They said that they're going to compensate for any loss from the users affected by this hack.

Looking at their trading volume[2] and trading fee[3], they should have enough income to do that. And they could divert money used to shill their exchange to cover the losses.

[1] https://bitcointalk.org/index.php?topic=5507115.0
[2] https://www.coingecko.com/en/exchanges/bingx
[3] bingx.com/en/support/costs

[malcovi2]

Great info, I wasnt even aware that this happened since I only store small amounts

[tabas]

Are there Bing X users here? they've been hacked just recently with a whopping loss of $26M. It may not be that much for big exchanges but $26M is $26M.

I guess that was initial amont as I just saw the news (I was about to create a thread when I saw yours) and article mentioned $43 million loss and who knows, it may even increase.

There's a new article that came out and it said $52M.
BingX ‘minor’ loss in suspected hack climbs to $52M

They said that they're going to compensate for any loss from the users affected by this hack.

No worries, funds are SAFU. 

Yeah, it's SAFU and they're playing responsible this incident to their users.

So this hack has happened while Bitcoin breaches $64k again.

I don't think that this will affect bitcoin price whatsoever as BingX is not a major player.

I mean that it happened during the pump of BTC.

cryptoaddictchie created similar thread before you but he posted it on beginners & help which might not let you see that similar thread has been created about BingX hack that occurred recently. I posted this for people to avoid repetition. It would be good if this thread is locked.

BingX has been hacked beware

Noted, I'll lock this thread now and let's continue the discussion there.

Looking at their trading volume[2] and trading fee[3], they should have enough income to do that. And they could divert money used to shill their exchange to cover the losses.

[1] https://bitcointalk.org/index.php?topic=5507115.0
[2] https://www.coingecko.com/en/exchanges/bingx
[3] bingx.com/en/support/costs

And that's the right thing to do as it's customers' funds that are affected and they need to compensate it whether they like it or not.

Great info, I wasnt even aware that this happened since I only store small amounts

As for us users, we shouldn't keep most of our funds in any exchange and this is type of scenario that we're avoiding.