- BingX has issued an update regarding withdrawal services post-hack.
- The update came after the exchange lost tens of millions in a September 20 attack.
- Details about the hack are still emerging, with BingX pledging to issue further updates soon.
Crypto exchange BingX has announced a schedule for resuming withdrawal services following a recent hack on the platform.
A hacker breached BingX’s hot wallet on September 20, stealing tens of millions in stablecoins and over 360 altcoins. While the exchange labeled the hack “minimal and manageable,” noting that it was still investigating the exact stolen amount, blockchain security firm Cyvers estimated the loss at over $52 million.
BingX’s Notice on Resumption of Withdrawals
After initiating a temporary service suspension post-hack, BingX announced on September 21 that it would gradually resume withdrawals as originally planned, starting with “mainstream tokens” on the BSC network on Saturday at 08:30 (UTC+8). These included USDT, USDC, BTC, ETH, TRX, SOL, and other tokens.
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Noting that users might face slight transaction delays due to ongoing security reviews, the exchange said it would restore deposits and resume withdrawals for other tokens in the “next 1-2 weeks.”
“To better safeguard your asset, all previous withdrawal requests will be canceled prior to the resumption of the withdrawal service. If you wish to proceed with a withdrawal, please submit a new request,” BingX wrote.
Meanwhile, BingX’s product chief, Vivien Lin, noted that the attack highlighted the ongoing security concerns in the crypto industry. She said these concerns hindered the healthy development of the Web3 landscape and bred doubt among users.
“If a platform like BingX, with experienced technicians and robust emergency response systems, is not fully immune to hacker attacks, ordinary Web3 users are even more vulnerable,” Vivien wrote on X.
Although BingX promised to compensate users, the exchange has yet to issue a post-mortem on the incident or acknowledge how much exactly was stolen.
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