BingX Restores Select Crypto Withdrawals After $52M Hack

BingX, a well-known cryptocurrency exchange, is planning to return withdrawals for chosen digital currencies like USDT, USDC, Bitcoin, Ethereum, Tron and Solana on September 21, 2024

BingX, a cryptocurrency exchange, will be resuming withdrawals for select cryptocurrencies on September 21, 2024, following a $52 million hack.

According to an announcement on Friday, withdrawals for USDT, USDC, BTC, ETH, TRX and SOL will be restored on that date.

The announcement comes after strange withdrawals were made from BingX’s hot wallet on September 19. The exchange said that the majority of its customer assets are kept in a cold storage system, which helped reduce losses from the incident.

BingX has reportedly frozen $10 million of the stolen assets and is working with several security companies to recover more. Customers who had requested withdrawals before the hacking incident will need to reapply.

The exchange assured its users that it remains financially sound and thanked them for their continued support.

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