🧵 1. Singapore-based crypto exchange BingX hit by $52 million hack, according to blockchain security firm Cyvers. Multiple blockchains affected. #crypto
🧵 1. Singapore-based crypto exchange BingX hit by $52 million hack, according to blockchain security firm Cyvers. Multiple blockchains affected. #crypto
🧵 2. Cyvers flags suspicious transactions linked to BingX, with losses exceeding $52 million. Stolen assets being swapped across various blockchains.
🧵 3. Hacker makes away with $43 million of crypto assets from BingX, per cybersecurity firm Peckshield. Assets mainly drained from Ethereum and BNB Chain.
🧵 4. BingX's chief product officer, Vivien Lee, explains the exchange's asset management protocol. Majority of assets stored in cold wallets for security.
🧵 5. BingX temporarily suspends withdrawals to strengthen wallet security. Emergency inspection ongoing after $52 million hack. Stay tuned for updates.
🧵 Read more at: https://dailyhodl.com/2024/09/21/singapore-based-crypto-exchange-bingx-suffers-52000000-hack-blockchain-security-firm/