BingX Confirms Hack Attack, Suspends Withdrawals

On September 20th, Vivien Lin, Chief Product Officer and head of BingX Labs, announced that BingX detected unusual network access around 4am on the 20th, suspected to be a hack targeting their hot wallet.

The team immediately activated emergency protocols, moving assets and suspending withdrawals. The incident resulted in the loss of a small amount of assets, with the exact figure still being calculated.

To protect user assets, BingX employs a multi-layered management system, with most assets stored in cold wallets and only a small portion in the hot wallet for withdrawal purposes. The team is currently conducting emergency checks and reinforcing security measures. Withdrawals are expected to resume within 24 hours.