2025-02-22
Slowmist
Hacker Techniques and Questions Behind Bybit’s Nearly $1.5 Billion Theft
#Bybit
#BingX
#Phemex
BingX
#BingX
- Reported: 2024-09
- Locations: Singapore
- Motivations: #FinancialGain
- Sectors: #Cryptocurrency
Summary
BingX, a Singapore-based cryptocurrency exchange, experienced a major security breach on September 19, 2024, losing $44.7 million. Hackers exploited its hot wallet, transferring funds across multiple blockchains. BingX initially downplayed the incident, but security firms revealed the scale of the attack. Speculation suggests the involvement of a sophisticated attacker, possibly linked to the infamous Lazarus Group. BingX promised a compensation plan and resumption of withdrawals.