THE BingXa famous cryptocurrency broker, on Tuesday (8) resumed processing withdrawals of all cryptocurrencies offered on its platform. Second official statementuntil then, only a few coins were available.
Withdrawal requests were blocked after the brokerage suffers a hack estimated at R$284 million on September 20. On that date, BingX said that customers’ funds were safe and that withdrawals would be released within 24 hours.
Keep your promise, the broker released withdrawals of USDT, USDC, BTC, ETH, TRX, XRP and SOL the next daySeptember 21. However, withdrawals from other cryptocurrencies remained unavailable.
BingX releases withdrawals for over 600 cryptocurrencies
Data from CoinMarketCap shows that the BingX is one of the 15 largest cryptocurrency exchanges in the world on spot trading volume. However, a security flaw resulted in one of the biggest hacks of the year, causing recordings to be suspended until the issue was investigated and resolved.
Still to this day September 29the broker has reprocessed withdrawals of 129 cryptocurrenciesincluding names like Toncoin (TON), BNB, Worldcoin (WLD), Shiba Inu (SHIB) and other well-known ones.
Next Tuesday (8), BingX has announced that more than 600 cryptocurrencies can now be withdrawn normally from the platform.
“We aim to ensure a smooth transition and will do our best to minimize any disruptions. We thank you for your understanding and cooperation”the broker wrote, saying his support is ready to answer any other questions.
BingX talks about hack
In another explanationBingX published answers to frequently asked questions about the hack at the end of September. According to the text, the attack was limited to just one of the hot wallets and had no impact on other features of the platform.
“We have launched a full-scale investigation into how this incident occurred and are working with leading security experts to thoroughly analyze what happened.”
“In response, we have already made several critical security improvements, including strengthening our wallet protection mechanisms, strengthening our threat detection systems and upgrading our real-time monitoring capabilities.”said BingX about future security measures.
Regardless of the incident, the reopening of withdrawals is a sign that the broker operated with sufficient reserves and absorbed all losses caused by hackers.
According to the proof of reserve seen on CoinMarketCap, Today, BingX has US$342 million (R$1.9 billion) in assets in its portfoliosthe majority of which are in USDT (66.2%), Bitcoin (18.2%) and Ethereum (10.2%).
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
