Blockchain security firm PeckShield reported earlier today that they observed suspicious large-scale fund outflows from cryptocurrency exchange BingX, with over $13.6 million transferred to a questionable address. BingX confirmed abnormal access to their hot wallet and announced temporary maintenance of their wallet system.

According to data monitored by on-chain data analysis platform Spot On Chain, over $27 million worth of various crypto assets were suspiciously drained from BingX in the past four hours and are being swapped to Ethereum (ETH). The alleged hacker's addresses currently hold 7,172 ETH (worth $17.58 million) and 11,467 BNB (worth $6.44 million).

🚨🚨 Exchange @BingXOfficial may be under attack!

Over $27M worth of various crypto assets were suspiciously drained from #BingX in the past 4 hours and are being swapped to $ETH.

Currently, the alleged attacker’s addresses already hold 7,172 $ETH ($17.58M) and 11,467 $BNB… https://t.co/mWvgwlTnXZ pic.twitter.com/p4uzNXAHdV

— Spot On Chain (@spotonchain) September 20, 2024

BingX has issued a notice of temporary wallet maintenance, suspending deposits and withdrawals for approximately 24 hours.

The exchange added that their team detected abnormal access to BingX's hot wallet at 4 AM (SGT) on September 20, suspecting a hacker attack. They immediately initiated emergency measures, including asset transfers and pausing withdrawals. BingX claims that the majority of their assets are securely stored in cold wallets, and only a small portion of assets stored in the hot wallet were affected.

🚨 Security Update 🚨

At 4 AM (SGT) on Sept 20, our team detected abnormal access to the BingX hot wallet, suspecting a hacker attack. We immediately initiated an emergency response, including asset transfers and pausing withdrawals.

🔒 Only minor losses so far, and we’ve got… https://t.co/7CFsqF5W20

— BingX (@BingXOfficial) September 20, 2024