Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home Incidents

BingX Confirms Minor Losses After Hack

September 20, 2024
Reading Time: 2 mins read
in Incidents
BingX Confirms Minor Losses After Hack

BingX, the Singapore-based cryptocurrency exchange, has confirmed experiencing a “minor asset loss” following suspicious outflows from one of its hot wallets. The incident was reported by Chief Product Officer Vivien Lin on September 20, after the technical team detected abnormal network access, raising suspicions of a potential hacker attack. In response, BingX implemented its emergency protocol, which included urgent asset transfers and the suspension of withdrawals to mitigate further risk.

Blockchain security firms initially reported significant fund outflows from BingX, with estimates rising from $13.5 million to over $26 million. Despite the alarming figures, Lin assured users that the amount lost was small and manageable, emphasizing that BingX maintains a minimal amount of crypto in its hot wallets. The exchange is currently conducting an emergency inspection of its wallet services to reinforce security measures and determine the full extent of the losses.

In a reassuring statement, Lin confirmed that user assets remain safe and that BingX would fully compensate for any losses incurred during this incident. The exchange has temporarily halted withdrawals but expects to resume operations within 24 hours. This proactive approach aims to restore user confidence and ensure that all affected individuals are promptly informed of any developments regarding their assets.

Despite BingX’s efforts to communicate transparently about the situation, some in the crypto community have expressed skepticism about the exchange’s disclosures. Criticism emerged on social media, questioning whether the company was being forthright about the nature of the incident. Nonetheless, BingX has reaffirmed its commitment to maintaining the integrity of user assets and enhancing its security protocols, reflecting the ongoing challenges faced by cryptocurrency exchanges in safeguarding against potential breaches.

Reference:
  • BingX Confirms Minor Asset Loss Amid Suspicious Hot Wallet Activity
Tags: cyber incidentsCyber Incidents 2024Cyber threatsSeptember 2024Singapore
ADVERTISEMENT

Related Posts

Tiffany & Co. Faces Data Breach Incident

Migos IG Hack Blackmails Solana Cofounder

May 28, 2025
Tiffany & Co. Faces Data Breach Incident

Tiffany & Co. Faces Data Breach Incident

May 28, 2025
Tiffany & Co. Faces Data Breach Incident

MathWorks Crippled by Ransomware Attack

May 28, 2025
Semiconductor Firm AXT Hit by Data Breach

Adidas Data Breach Exposes Customer Contacts

May 27, 2025
Everest Ransomware Leaks Coke Staff Data

Everest Ransomware Leaks Coke Staff Data

May 27, 2025
Semiconductor Firm AXT Hit by Data Breach

Semiconductor Firm AXT Hit by Data Breach

May 27, 2025

Latest Alerts

Microsoft Void Blizzard Cyber Threat Alert

Fake DocuSign Alerts Target Corporate Logins

Fake Bitdefender Site Spreads Venom Malware

FBI Warns Luna Moth Targets US Law Firms

Winos 4.0 Malware Spread Via Fake Installers

GhostSpy Android Malware Full Device Control

Subscribe to our newsletter

    Latest Incidents

    Migos IG Hack Blackmails Solana Cofounder

    Tiffany & Co. Faces Data Breach Incident

    MathWorks Crippled by Ransomware Attack

    Everest Ransomware Leaks Coke Staff Data

    Adidas Data Breach Exposes Customer Contacts

    Semiconductor Firm AXT Hit by Data Breach

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial