The Chief Product Officer of BingX announced on X that the exchange has been hacked, resulting in a “small” amount of assets being stolen. BingX has committed to compensating users for any losses. However, on-chain data reveals that nearly $43 million was withdrawn from the platform, including $13.25 million in ETH, $2.3 million in BNB, and $4.4 million in USDT, among other assets.
The first attack on BingX led to a loss of $26 million, followed by another $16.5 million, bringing the total to $43 million. CPO Vivien Lien described the losses as “minimal and manageable,” assuring that business operations remain unaffected.
While trading is continuing as usual, withdrawals and deposits have been temporarily paused and are expected to resume within 24 hours. In addition to stablecoins, over 360 other cryptocurrencies were also stolen.
Data from Etherscan shows that most of the stolen assets have been swapped into ETH and BNB on decentralized exchanges (DEXs) like Uniswap and Kyberswap. As of the latest reports, the wallet linked to the attack, which received funds from BingX’s hot wallet, holds over 1,000 ETH.