BingX Chief Product Officer Vivien Lin: Platform Is Able to Cover This Loss

Article is form followin
September 20, 2024
This article is translated by ChatGPT Show original
Back Icon Image

On September 20, BingX Chief Product Officer Vivien Lin stated during a transparency AMA that we will continue to hold AMAs in the coming days to provide timely updates on our progress. Earlier today, our security team promptly detected an abnormal withdrawal attempt and took swift action to prevent significant financial losses. It is important to note that most of our assets are held in cold wallets, while the wallet targeted in this attack was a hot wallet. We are still calculating the specific amount of the loss, and we have already frozen some funds. We are grateful to all the teams who have provided assistance during the investigation. While there are various rumors circulating about the extent of the loss, these are not final figures. Many of the transfers that occurred this morning were made by our team to protect the funds in the hot wallet after the attack. User funds are completely secure, and we will assume all responsibility for the losses incurred by users. We have the capability to cover these losses.

Back Icon Image
Source
1. Disclaimer: The views expressed are solely those of the author and do not reflect the stance of Gen3. They are not intended as investment advice.
2. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as investment or other advice.