The cryptocurrency exchange BingX announced its recovery after a major fund breach, while some users remain concerned about the KOKO token.
Breach Incident and Measures Taken
In late September, BingX experienced a hack resulting in the theft of approximately $43 million in cryptocurrencies, including Ethereum and Binance Coin. The exchange suspended withdrawals to address the breach and promised full compensation to affected users. According to Vivien Lin, BingX's chief product officer, several chains have resumed deposit and withdrawal support, and over 700 tokens have been recovered. 'All operations have returned to normal,' stated Lin.
User Reactions and KOKO Issues
Despite the team's swift action to ensure security, some users expressed dissatisfaction with ongoing issues related to the KOKO token, issued by the Koala AI VIP project. Andraž Novljan, a member of the Koala AI VIP team, noted that BingX has not responded to inquiries about the status of the KOKO token and compensation for its holders.
Context of the Incident and Comparison to Other Hacks
The BingX hack was among the largest in September, when the combined damage from attacks on cryptocurrency protocols exceeded $120 million. A PeckShield report indicated that platforms like Penpie and Indodax were also targeted.
Despite partial recovery from the attack, BingX faces challenges in resolving KOKO token issues, highlighting the ongoing need for security vigilance in the cryptocurrency industry.
