BingX Restores Select Crypto Withdrawals After $52M Hack

The post BingX Restores Select Crypto Withdrawals After $52M Hack appeared first on Coinpedia Fintech News

BingX, a well-known cryptocurrency exchange, is planning to return withdrawals for chosen digital currencies like USDT, USDC, Bitcoin, Ethereum, Tron and Solana on September 21, 2024. In the wake of a $52 million security breach involving strange withdrawals from a hot wallet, this announcement was made. BingX stated that most of its client assets were retained in a cold storage system hence reducing losses. The platform has frozen $10 million of stolen property while more is being worked on with some security companies. Those customers who had requested for their withdrawals before the hacking incident have to do it again. The company assured its users about their financial stability.