TechFlow reports that Vivien Lin, Chief Product Officer of cryptocurrency trading platform BingX, announced the platform suffered a suspected hacker attack around 4:00 AM Beijing time on September 20. The BingX technical team detected abnormal network access and suspects the platform's hot wallet was compromised. The company has immediately activated its emergency response plan, including urgently transferring assets and suspending withdrawals. A small amount of asset loss has been confirmed, with the exact amount still being calculated.
To protect user assets, BingX employs a tiered management system, storing the majority of assets in cold wallets while only keeping a minimal amount in hot wallets for withdrawal purposes. For security reasons, BingX has temporarily suspended withdrawal services to conduct urgent inspections and strengthen wallet security.
Withdrawal functionality is expected to be restored within 24 hours. BingX stated it is currently developing a compensation plan and will release details soon.
