BingX has resumed withdrawal services of the $52M hack.
The exchange plans to collaborate with blockchain security firms to investigate and recover the stolen funds.
BingX, a prominent Singapore-based cryptocurrency exchange, has resumed withdrawal services for digital assets following a hack that resulted in $52 million in losses. Reportedly, the estimated initial loss of the security breach was $43 million.
In an official X post on September 20, Chief Product Officer of BingX, Vivien Lin, stated that the breach occurred around 4:00 a.m. (SGT). The exchange has immediately isolated the compromised systems to prevent further loss. Furthermore, Lin assured users that BingX plans to compensate users for any lost funds completely. She also mentioned that the total loss was minimal and manageable.
The stolen funds include $13.25 million in Ether (ETH), $2.3 million in Binance Coin (BNB), and $4.4 million in Tether (USDT), among other assets. The hackers have drained more t
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