At around 4 AM on September 20 (Singapore time), BingX’s technical team detected unusual network activity, suggesting a potential hacker attack targeting the platform’s hot wallet. In response, an emergency plan was swiftly implemented, which included suspending withdrawals and urgently transferring assets to protect user funds. While some assets have been lost, the amount is relatively small and is still being calculated. To safeguard user funds, BingX employs a layered asset management system. The majority of assets are stored in cold wallets, with only a small portion kept in hot wallets to facilitate withdrawals. As a precaution, all withdrawals have
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