BingX: All losses will be fully covered by the platform, withdrawals will be processed within 24 hours
BingX Announces Potential Hot Wallet Hack, User Assets Safe
On September 20, PANews reported that BingX, a cryptocurrency exchange platform, has detected suspicious network activity and suspects a hack on its hot wallet. The incident occurred around 4am Singapore time on September 20.
BingX has activated emergency measures, including asset transfer and suspension of withdrawals. The platform confirms minor asset losses, with the exact amount still under assessment. BingX will fully compensate for the losses.
To protect user assets, BingX employs a multi-tiered management system, with the majority of assets stored in cold wallets. To ensure ongoing security, deposit and withdrawal processing times will be extended. The platform is currently conducting emergency checks and reinforcement of its wallet services. Withdrawals will resume within 24 hours.
