1. Details of the Incident
2. Losses and Assets
3. Recovery Plans

Singapore-based cryptocurrency exchange BingX reported a hack on its hot wallet in the early morning hours of September 20.

Details of the Incident

According to BingX Chief Product Officer Vivian Lin’s announcement on X, the attack was detected at 4 a.m. Singapore time. The hackers breached BingX’s hot wallet, after which the team initiated an emergency plan that included urgent asset transfers and withdrawal suspensions.

Losses and Assets

Onchain sleuth LookOnchain reported the assets and funds lost in the last two hours and identified the attacker’s wallet address—'0xF7e8'. The lost funds included more than 360 altcoins such as USDT, WUSD, USDC, BTCB, and ZRO, which were then swapped for ETH and BNB. According to LookOnchain, BingX has suffered losses worth more than $26 million. The hacker’s wallet showed rapid movement activities, holding 834.002 ETH worth $2.11 million.

Recovery Plans

In her X post, Vivian Lin mentioned that alongside withdrawal suspensions, an emergency inspection was initiated to strengthen wallet services. BingX later made an official announcement about temporary wallet maintenance. Users expressed concerns about withdrawal suspensions on X.

The hack on BingX has led to significant losses worth over $26 million. The exchange is taking recovery measures by enhancing wallet protection and suspending withdrawals.