BingX exchange has fully restored its operations following a significant hack in September that resulted in the theft of over $43 million in various cryptocurrencies.
All the deposit and withdrawal services have been restored and the company has assured its clients that their funds are safe. In order to strengthen its security even further, BingX has come up with a cybersecurity program known as ShieldX.
BingX Exchange Restores Full Operations
In a press release, BingX has announced that it has come back to normal operations following the cyberattack that affected its hot wallet system. The hack occurred in September and led to the theft of millions of stablecoins such as USDT, USDC, WUSD which were then exchanged for Ethereum and Binance Coin. Altogether, the hackers made away with 360 altcoins worth more than $43 million.
BingX has offered to compensate all the victims of the hack from its own pocket and has assured the users that their assets will be returned.
The platform has also fully restored all its deposit and withdrawal services thus making its operations to be back to normal. This quick rebound, together with the launch of a new security measure, is aimed at regaining user trust within the platform.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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