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Topic: BingX exchange is hacked, loss $26M (Read 90 times)

hero member
Activity: 3234
Merit: 775
🌀 Cosmic Casino
September 20, 2024, 03:56:32 PM
#6
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.  Grin
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://bitcointalksearch.org/topic/annoying-spam-marketing-for-the-bingx-exchange-5507115
[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.
member
Activity: 1103
Merit: 76
September 20, 2024, 04:34:53 AM
#5
Great info, I wasnt even aware that this happened since I only store small amounts
legendary
Activity: 2870
Merit: 7490
Crypto Swap Exchange
September 20, 2024, 04:26:12 AM
#4
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://bitcointalksearch.org/topic/annoying-spam-marketing-for-the-bingx-exchange-5507115
[2] https://www.coingecko.com/en/exchanges/bingx
[3] bingx.com/en/support/costs
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
September 20, 2024, 02:32:17 AM
#3
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
legendary
Activity: 1722
Merit: 5937
September 20, 2024, 01:45:25 AM
#2
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.


They said that they're going to compensate for any loss from the users affected by this hack.
No worries, funds are SAFU.  Grin


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.


hero member
Activity: 3234
Merit: 775
🌀 Cosmic Casino
September 20, 2024, 12:32:56 AM
#1
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
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