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Saturday, September 21, 2024
BingX just crapped out to the tune of $44.7 million.
In a plot twist that's becoming all too familiar, another centralized exchange found their hot wallets compromised.
On September 19th, BingX learned a costly lesson in the dangers of hot wallet management and the persistence of sophisticated hacking groups.
As alerts of the exploit spread, observers watched in fascination as the hackers performed their dark magic, siphoning funds across multiple chains with the finesse of a digital David Copperfield.
Meanwhile, BingX's PR team scrambled to downplay the incident, insisting it was just a "minor" setback - because nothing says "everything's fine" like hemorrhaging eight figures worth of customer funds.
In the wake of this Singaporean crypto tsunami, how many more exchanges need to be drained before "not your keys, not your crypto" stops sounding like a broken record and starts becoming common sense?
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We are all rekt.